India needs to initiate a number of steps to manage the emerging situation.  After three consecutive good years, agricultural production has faltered in the last two years. There was a fall in production to the tune of 1.6 per cent in 2008-2009 compared to the previous year. This year, again, agricultural production is likely to be down by 2 per cent or more. The deceleration in the growth of foodgrain...

Paul A. Samuelson, the first American Nobel laureate in economics and the foremost academic economist of the 20th century, died Sunday at his home in Belmont, Mass. He was 94. His death was announced by the Massachusetts Institute of Technology, which Samuelson helped build into one of the world’s great centres of graduate education in economics. In receiving the Nobel Prize in 1970, Samuelson was credited with transforming his discipline...

Paul A. Samuelson, the first American Nobel laureate in economics and the foremost academic economist of the 20th century, died Sunday at his home in Belmont, Mass. He was 94. His death was announced by the Massachusetts Institute of Technology, which Samuelson helped build into one of the world’s great centres of graduate education in economics. In receiving the Nobel Prize in 1970, Samuelson was credited with transforming his discipline from...

India's economy grew at a faster-than-expected rate of 7.9% in the three months to September, compared to the same period last year. The growth was helped by government stimulus spending. A boost in manufacturing and services helped the country expand at the fastest pace for 18 months. Some analysts said this could give the central bank room to raise interest rates as early as December to combat rising inflation. "This data...

Unprecedented rise in potato prices pushes up inflation  Food inflation soared to 15.58 per cent for the week ended November 14 in the wake of an unprecedented rise in the prices of potato and other essential items. Official data based on the Wholesale Price Index (WPI) released here on Thursday for the week revealed that while potato prices have more than doubled in the past 12 months, other basic food...