-Live Mint Realized prices for the farm sector continue to soften even though the government has raised the minimum support prices by over 20% Like every year the government has hiked minimum support prices to help the farmers realize good returns in early June, but India’s rural growth story is expected to run out of steam because of falling realizations of farmers and limited policy support, according to a recent report by...

Prime Minister Manmohan Singh's direct involvement in the finance ministry has renewed reform vigour among officials, who plan steps to reform fuel pricing and accelerate domestic oil exploration, government and industry officials said. According to officials fuel pricing reforms are expected after mid July post Presidential poll, which would include a hike in diesel rates by atleast Rs 3 per litre and limiting highly subsidized cooking gas cylinders to four refills...

-PTI India’s monsoon, vital for Asia’s third-largest economy, has been 22% deficient till June 26, official data showed, adding to the government’s worries and prompting Prime Minister Manmohan Singh to consult key aides on measures to tone up the economy on Wednesday. In a revised forecast, the Met department predicted the rains would be 96% of the long-term average, lower than its April forecast of 99%. Rainfall is considered normal if...

-Down to Earth World is moving towards natural capital as a measure of economic growth After using gross domestic product, or GDP, as the universal measurement of economy for six decades, the world has begun looking beyond this gold standard for measuring a country’s economy. On May 25, 10 African countries agreed to incorporate their natural capital, or value of their natural resources, into their national accounts to make better economic decisions. The...

Plans are afoot to cap the number of subsidised LPG cylinders at six to eight per annum to reduce the losses of state-run oil firms and bring down the burgeoning subsidy bill. Oil ministry officials said consumers might have to pay more for every additional cylinder, and the amount would be gradually linked to market rates. Sources said the finance ministry had asked the oil ministry to revisit its proposal made last...