The Planning Commission today said the annual agriculture growth target for the 12th Five Year Plan (2012-17) would be set at 4% as it was in the previous two plans. The Planning Commission deputy chairman Montek Singh Ahluwalia also said, "During the current five year plan (2007-12) we are likely to achieve average farm growth of about 3.5%, which would be little lower than targeted 4%." Ahluwalia who was conferred a doctorate...

Buoyed by high foodgrains production, the country's farm sector is expected to grow at 5.4 per cent in the current financial year, as against 0.4 per cent a year ago. A likely growth in the "agriculture, forestry and fishing sector" is due to an estimated higher production of rice, wheat, pulses, oilseeds, cotton, sugarcane and some horticultural crops, according to Advance Estimate released by the Central Statistical Organisation (CSO). The foodgrains production...

India's food prices are likely to ease, bringing down food inflation from stubbornly high levels, over the next two months as supplies of onions and other vegetables are expected to pick up, industry officials said Thursday. The country's food inflation rate surged to more than 18% in December as vegetable prices, particularly those of onions, spiked after unseasonal rain damaged crops. India's food inflation rate has slightly eased since then, but...

Prices across the three segments food, industrial goods and oil that determine inflation rising, the year-end inflation targets have been revised. The government had earlier estimated end-March inflation at 6% but RBI now has raised it to 7%. The Food and Agriculture Organisation has raised an alert over a potential spike in global prices of sugar and cereals, especially wheat. Though India might just get away thanks to a bumper output...

The class bias in government policy is clear in the decision to release a small amount of foodgrain in the open market to tackle inflation. MOST people would agree that there is a strong element of speculation underlying the current inflation and that forward trading contributes to it. Yet the government, though it has banned forward trading in certain commodities under public pressure, is curiously reluctant to see this point....