-The Business Standard Central bank chief Raghuram Rajan likely to retain stance later this week, say economists Inflation in onions skyrocketed to 244.62% in August against already high 119.4% in the previous month, jacking up the the rate of wholesale price rise to a six-month high of 6.10% from 5.8% in July, official data showed today. Ironically, onion prices can't be brought down by interest rate policy, but it is all set to...
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Diesel, LPG hike decision in a few weeks: oil secretary
-Reuters Govt is considering Rs3-5 hike in diesel prices The government will decide on raising the retail prices of diesel and cooking gas (LPG) in a few weeks, the oil secretary said on Thursday, in a bid to cut the biggest item in its import bill and support the local currency. India, the world's fourth-biggest oil consumer, is considering a Rs 3 to Rs 5 hike in the price of diesel, which...
More »India ahead of China in wasting food -Chetan Chauhan
-The Hindustan Times When it comes to wasting food items, India is ahead of China, says a UN report on food waste and its impact on natural resources. The grim news comes at a time when prices of most vegetables and fruits are high. The waste also takes a high toll on the country's natural resources because many of these items, rice for example, consume large quantities of water. It is estimated more...
More »Global food prices continue to drop
-FAO Prices of cereals and oils decrease - FAO expects bumper cereal harvest this year Rome: The FAO Food Price Index dropped for the fourth month in a row in August reaching its lowest level since June 2012. The index, which measures the monthly change in the international prices of a basket of food commodities, averaged 201.8 points in August 2013, nearly 4 points (1.9 percent) below its July value and 11 points...
More »Amid slugfest with BJP, PM hints at hiking fuel prices, curbing gold imports
-The Times of India NEW DELHI: The Prime Minister on Friday called for a political consensus on "more difficult reforms", indicating that the government was considering a cut in fuel subsidy, which would mean higher petrol and diesel prices, and bringing in measures to curb gold imports. Making a statement in the Lok Sabha on the current economic situation, Manmohan Singh admitted that the current account deficit had gone up sharply and...
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