The new food security schemes point to the capacity of agriculture to produce more when the incentives are right. Supply of cheap foodgrains will trigger demand for other food products, which the farm sector will have to meet. The many rural development programmes in operation have complex effects on the rural economy. Programmes such as Bharat Nirman are expected to improve connectivity of markets, provide access to more efficient sources of...
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High food prices forcing Indians to cut other spending, says Nielsen
THE boom in demand for apparel and mobile phones may soon be over as Indians plan to spend less on fun and entertainment to deal with rising food prices, a Nielsen study says. Indian consumers are extremely cautious about rising food prices and a sizeable section may defer purchases by 6-12 months, says the latest Nielsen global Consumer Confidence index released on Monday. Some companies, including LG Electronics and Future Group, agreed...
More »Global food prices rise to new highs, not expected to fall in coming months – UN
Food prices around the world surged to a new historic peak in January, for the seventh consecutive month, the United Nations Food and Agriculture Organization (FAO) reported today, adding that the prices are not likely to decline in the months ahead. According to the FAO, its latest Food Price Index, a commodity basket that tracks monthly changes in global food prices, averaged 231 points in January and was up 3.4 per...
More »Manmohan favours hike in MNREGA wages by K Balchand
Turns down Sonia's proposal for statutory minimum wages The battle for statutory minimum wages under the Mahatma Gandhi National Rural Employment Guarantee Act (MNREGA) seems to be on a slippery ground with Prime Minister Manmohan Singh indicating that the government could at best cover inflation-induced erosion of wages. In his December 31, 2010 letter, Dr. Singh has turned down the proposal of National Advisory Council chairperson Sonia Gandhi to pay MNREGA workers...
More »Worried Centre abolishes import duty on onions by Sujay Mehdudia
Stung by the skyrocketing retail prices of onion in the country, the Centre on Thursday announced abolition of import duties and banned its exports for an indefinite period. Cabinet Secretary K.M. Chandrasekhar, who is personally monitoring the situation, asked the State governments to take strong action against hoarders. He asked the Commerce Ministry to import onions to cool down prices. The government directed its three trading companies — STC, PEC and MMTC...
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