India has large wheat stocks already yet policy dictates they increase. In states like Punjab, Haryana, UP and Gujarat prices have fallen and are below the minimum support prices. This is a policy-induced outcome. A safe game in grains is fine, given the global politics of grain trade and the great ability of Indian politics to subsidise the wrong man in the vote bank — but how safe is safe? The...
More »SEARCH RESULT
Total Matching Records found : 1148
Food ministry seeks delay in ethanol blending plan by Prabha Jagannathan
The food ministry is set to oppose the mandatory 5% ethanol blending programme, fearing diversion of foodgrain for manufacture of ethanol. The ministry has called for the report of the expert panel headed by Planning Commission member Saumitra Chaudhuri in order to "review" the programme. The petroleum ministry was expected to soon send the report to the Cabinet Committee on Economic Affairs for a final decision after factoring in the dissent notes...
More »Food Inflation in India to Climb on Labor, Energy Costs, Commission Says by Prabhudatta Mishra and Pratik Parija
Food-price inflation in India, Asia’s third-largest economy, may accelerate in the second half as farmers are paying 20 percent more to grow crops, according to the commission that helps set minimum farm-product prices. “The cost of production is going up very fast,” Ashok Gulati, chairman of the Commission for Agricultural Costs and Prices, said in a telephone interview yesterday. “The labor cost has gone up dramatically in the past one year...
More »Centre has no say in Oil Prices, says FM
-The Telegraph The Trinamul Congress was silent on the petrol price hike for the second day, its leaders only saying that Mamata Banerjee would speak on the issue. While Trinamul is still working on its response to the Rs 5 rise that the Left has pounced on to attack the UPA government, of which the party is a key member, finance minister Pranab Mukherjee today said the Centre could not be...
More »Price of delay
-The Business Standard Union finance minister Pranab Mukherjee was being economical with the truth when he said that last Saturday’s petrol price hike decision was entirely that of oil marketing companies (OMCs). True, the government correctly but belatedly deregulated petrol pricing several months ago, but it is clear that despite a sharp increase in global crude Oil Prices in the past six months, the OMCs restrained themselves from increasing domestic...
More »
