A rural Indian spending Rs. 22.50 a day would not be considered poor by a Planning Commission whose Deputy Chairman's foreign trips between May and October last year cost a daily average of Rs. 2.02 lakh Pranab Mukherjee's stirring call for austerity tugs at the national tear ducts. Prime Minister Manmohan Singh has pleaded for it in the past and watched his flock embrace it creatively. With the Finance Ministry even...
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Retail inflation hits double digits in April
-The Times of India Spiralling prices of vegetables, oils and fats, milk and milk products pushed consumer price inflation to double digits in April in yet another hurdle to the Reserve Bank of India's efforts to ease interest rates. The double digit retail inflation rate also poses fresh challenges for the UPA government which has been on the back foot for its handling of the economy. Data released by the Central Statistics Office...
More »‘No storage space for 12m tonnes of grain from June’
-The Times of India Food Corporation of India (FCI) has warned that unless the government can distribute 750 lakh tonnes of food grain, there will be no storage space for the bumper harvest being currently procured, the food ministry told Rajya Sabha on Monday. The crisis of plenty has been engaging the government for a while as it is under pressure to distribute food grain to the poor or intervene in some...
More »UPA struggles to put life into annual report-Sanjay K Jha
The UPA II’s third anniversary on May 22 may witness a repackaging of old schemes, promises and achievements in the “Report to the people” as the government has little to show for 2011-12. Sources say the 13-chapter report struggles to contest the perception of policy paralysis by pointing out social-sector initiatives based primarily on welfare schemes launched during the UPA I regime or in the first year of UPA II. The government...
More »Food prices double in UPA’s term-Sidhartha
If inflation has broken the back of the aam aadmi, the biggest contributor to the pain in the UPA's term is food prices. Government data on wholesale price index (WPI) shows that there has been a 63% increase in the price of all commodities between April 2004, a month before UPA took charge, and April 2012, the latest period for which data is available. But when it comes to food products,...
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