Even as the government races against time to procure enough jute bags to store grains in the face of record procurement , gunnysack traders are saddled with massive unsold stocks. A look at the godowns of some traders in the national capital alone shows there is no shortage of jute bags in the country. While the central government has placed an order for four lakh jute bags to be imported from...

-The Economic Times Soaring vegetable prices pushed inflation higher in April, while fuel and manufactured product prices sustained their pressure posing a fresh policy challenge and announcing the return of price pressures in Asia's third-largest economy. Data released by the commerce & industry ministry on Monday showed the annual rate of inflation, based on monthly wholesale price index, stood at 7.23% for April, 2012, compared to 6.89% for the previous month and...

Inflation in India rose above expectations in April, making life difficult for the nation's central bank as it tries to revive an economy facing increased stagflation risks. The Reserve Bank of India last month cut its policy rate for the first time in three years to boost sagging growth. But inflation has remained stubbornly high, raising concerns the economy may be facing a nightmare scenario of slowing growth and rising prices. On...

Pawar’s Report Card The Negatives     Per capita availability of cereals and pulses has fallen in last eight years     No improvement in irrigation, 60% of agriculture still dependent on monsoons     Farmers growing cereals, sugarcane, oilseeds and pulses assured higher MSP, but majority don't benefit     Production up, but not productivity. Farmer suicides are on the rise.     Poor market advisory on exports being misused to buy cheaply from farmers and make profits overseas     Pawar...

-The Economic Times Grain stocks with state agencies are likely to cross 75 million tonnes some time in June 2012, while covered capacity to store is less than 50 million tonnes. The rest would be under CAP (with pucca or even kachcha plinths) exposed to potential large-scale damage. An early and rational policy decision is required to reduce the stocks by at least 7-10 million tonnes to avoid high costs of...