He dreamt of becoming a successful lawyer. Hailing from Jalgoan, it isn't surprising that his career was destined to be elsewhere. Today, 40-year old Hemchandra Dagaji Patil has no regrets. "The black coat beckoned me. I used to imagine myself in court rooms but finally my father persuaded me to stay back in the village as there was a drop in crop yield and there was no one to look after the...

An inter-ministerial group set up by the government to keep a watch on inflation and suggest measures has reiterated the need to revise the mandi law that prevents competition among buyers for farm produce. The group headed by chief economic advisor Kaushik Basu said the Agricultural Produce Marketing Committee (APMC) Act needed to be revised to encourage competition among Traders and promote efficiency in retailing. Kishore Biyani , Chairman, Future Group...

Revising the Agriculture Produce Market Committee Act ( APMC Act), encouraging competition among Traders and promoting efficiency in retailing are some of the steps needed to calm food inflation. These views were discussed in the second meeting of a interministerial group appointed by Prime Minister Manmohan Singh to review the inflation situation and suggest corrective measures, according to a statement issued by the finance ministry. Kishore Biyani, chairman of retail major...

With buffer stocks ahead of harvest being twice the norm, limiting wheat procurement in the coming season is a judicious option. It is time for a thorough overhaul of the foodgrains procurement and buffer stocking policy. With the rabi season harvest of grains — mainly wheat, followed by paddy — just days away, a major challenge will be finding appropriate storage space. As of March 1, the Food Corporation of India...

57 lakh tonnes of ore purchased from unlicensed dealers The Department of Mines and Geology has initiated proceedings to recover Rs. 600 crore from iron ore exporters for buying a staggering 57 lakh tonnes of ore from unlicensed dealers since 2003-04. According to sources in Hospet, the scam came to light when the Department of Mines and Geology tapped the offices of the Commercial Taxes Department and verified records. It was found...