A problem of plenty is looming as by June 1, an estimated 12 million tonnes of foodgrain will have to be stored in the open in "kutcha plinths" with a bountiful Rabi harvest and procurement of 65 million tonnes of grain boosting food stocks to record levels. With states like Madhya Pradesh - apart from the wheat baskets of Punjab and Haryana - delivering bonus yields, food stocks are expected to...
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Strong India, China growth reduces world poverty
-IANS The percentage of people living in extreme poverty declined from 52% in 1981 to 22% in 2008 thanks to strong economic growth in the emerging markets of India, Brazil and China, according to a new report. This means that the Millennium Development Goal of cutting extreme poverty in half by 2015 has already been met, US think tank Hudson Institute's Centre for Global Prosperity's (CGP) annual Index of Global Philanthropy and...
More »Pranab vetoes extra food subsidy to states-Ravish Tiwari
In the first example of his intention to take “difficult decisions” to contain the ballooning subsidy burden to control the fiscal deficit, Finance Minister Pranab Mukherjee on Monday denied permission to food minister KV Thomas for about 26.5 million tonnes of additional food grain allocation to states at subsidised rates over the normal allocation that would have cost the exchequer Rs 32,794 crore of food subsidy. “It will have to be...
More »UP & Punjab farmers protest as private dairies cut purchase price-Madhvi Sally
Dairy farmers and contractors in western Uttar Pradesh and Punjab are on a warpath after private milk companies reduced procurement prices to take advantage of a bumper milk production. Farmers allege that companies are profiteering because they have not simultaneously reduced consumer prices. But companies say they have huge stocks of unsold milk and milk powder and a cut in procurement prices is to bring pressure on government to allow exports. Cooperatives...
More »ADB calls for another Green Revolution
-The Hindu Food subsidies for poorest will help them cope: ADB A hike in the cost of food staples like rice and wheat could push tens of millions more people into extreme poverty in the South Asian region including India, says an Asian Development Bank (ADB) report. The Manila-based lending agency, in its report “Food Price Escalation in South Asia – A Serious and Growing Concern” released on Monday, however, said that food...
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