At BANCON (annual bankers' conference) 2011 in Chennai, financial institutions explored avenues for greater participation in agriculture and rural development. There are a few areas in need of additional attention and investment. Green Revolution technologies are scale-neutral but not resource-neutral. Inputs are needed for output; therefore market-purchased inputs become important in providing soil and plant healthcare for higher yields. Social scientists point out that small and marginal farmers will be excluded...

-The Hindu Business Line   The Rural Development Minister, Mr Jairam Ramesh's proposal to amend the law on minimum wages to permit a lower wage for employment under the rural jobs scheme (Mahatma Gandhi National Rural Employment Guarantee Act or MGNREGA) makes practical sense. The Karnataka High Court ruled recently that wages set under MGNREGA cannot be independent of the MWA. Effectively, it means there can be no such thing as an...

-The United Nations   Food prices dropped to an 11-month low in October, the United Nations Food and Agriculture Organization (FAO) said today, while adding that they are still higher than last year and very volatile.   FAO’s Food Price Index averaged 216 points last month, down 4 per cent from September, the agency said in a news release. The index is a measure of basic food prices at the global level. “The drop was...

To control inflation and ensure long-term economic growth, India needs to harness the creativity of the large number of its farmers and entrepreneurs, especially in rural areas. The latest WPI inflation data show primary articles inflation in double digit, driven mainly by food inflation which remains stubbornly high at over 9 per cent. The high food prices are the result of structural factors with shortages getting aggravated as demand continues to outstrip...

-The Economist   The world’s population will reach 7 billion at the end of October. Don’t panic IN 1950 the whole population of the earth—2.5 billion—could have squeezed, shoulder to shoulder, onto the Isle of Wight, a 381-square-kilometre rock off southern England. By 1968 John Brunner, a British novelist, observed that the earth’s people—by then 3.5 billion—would have required the Isle of Man, 572 square kilometres in the Irish Sea, for its standing...