Curbing inflationary expectations is the priority Food price inflation has been in double digits for almost a year. Officially this week it is clocking up 20 per cent, the highest in 11 years. Stories of inflation in pulses and vegetables have appeared repeatedly in newspapers all over the country. The minimum support price for wheat has more than doubled in the past three years. The sugarcane farmers invaded the roads of...
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Reform markets to tame food prices by Ashok Gulati and Kavery Ganguly
The food price inflation in India, measured by the wholesale price index of food items, touched a 10-year high for the week ended November 28, 2009 when it crossed 19% on point-to-point basis over the corresponding week a year ago. The cereal prices were up by about 13%, but pulses are up by 42%, and vegetables by 31%, although potato prices shot up by 102%. This is getting way beyond...
More »Worrying trend
There has been no let-up in the rising trend of food prices. For the week that ended on November 28, the wholesale price index for food articles rose 19.05 per cent over the corresponding period last year. A week earlier, it was at 17.47 per cent. Indeed, arresting the price rise of essential commodities has been a challenge to the government for quite some time now. Some recent developments have...
More »Coping with rising foodgrain prices by VS Vyas
India needs to initiate a number of steps to manage the emerging situation. After three consecutive good years, agricultural production has faltered in the last two years. There was a fall in production to the tune of 1.6 per cent in 2008-2009 compared to the previous year. This year, again, agricultural production is likely to be down by 2 per cent or more. The deceleration in the growth of foodgrain...
More »Managing food prices
Even as reports pour in of a softening of food price futures, the spectre of food price inflation haunts households across the country. But to imagine that the inflation genie can be put back into the bottle through legislative fiat is the height of parliamentary fantasy. The Estimates Committee of the Lok Sabha has recommended just that! It wants new legislation to check price rise of essential commodities by capping...
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