Between 2005 and 2007, the world saw doubling of the prices of wheat, coarse grains, rice and oilseed crops and they continued rising in early 2008. It has been predicted by an OECD study (2008) that on average over the coming ten-year-period, prices in real terms of cereals, rice and oilseeds are projected to be 10% to 35% higher than in the past decade. This means more trouble for the...

Did we just miss a major opportunity? For short while, it seemed that the global financial crisis would focus minds on what is wrong with the current economic growth model and how we can go about changing it. Unfortunately, that moment seems to have passed, at least until the next crisis comes along (which, in current trends, will not be long, since all the major forces that led to the...

India’s growth is not falling, although it is not as high as before If there is a crisis, there should be economics to deal with it; what use are economists if they are not around to help out when things get bad? And it is not enough to have economics. There was plenty of economics in 1929. As output and employment plummeted, economists said, this is good. It will take...

Southern Kerala state is known for the lush expanses of cardamom, pepper, tea and rubber that grow on its misty hills, and the bountiful catches of fish on a coastline punctuated by lagoons and backwaters. But a cloud in the form of a a free trade deal with the Association of Southeast Asian Nations (ASEAN) bloc hovers over this picture of plenty. With the Indo-ASEAN Free Trade Agreement (FTA) now...

A good reason why we must not rejoice the late resumption of monsoon rains is that much of the damage is already done and is irreparable. In over 60 percent of India’s agricultural belt, particularly in the North-Western parts, there will be no rabi harvest. Hence, late arrival of rains hardly mitigates the challenges of lower agricultural production, shrinking of rural purchasing power, high inflation of food prices and loss...