If the price rise is due to production shortfall, how does one explain the near doubling of the price within a few days? The sharply rising onion prices have raised the suspicion that speculators are manipulating a shortage situation. First, a few facts. In retail markets, onion prices have soared from Rs 10-11 per kg in June to as high as Rs 70-80 on Dec 21. Even more significantly, prices zoomed by...
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Of luxury cars and lowly tractors by P Sainath
Even as the media celebrate the Mercedes Benz deal in the Marathwada region as a sign of “rural resurgence,” the latest data show that 17,368 farmers killed themselves in the year of the “resurgence.” When businessmen from Aurangabad in the backward Marathwada region bought 150 Mercedes Benz luxury cars worth Rs. 65 crore at one go in October, it grabbed media attention. The top public sector bank, State Bank of India,...
More »Can only GM crops ensure India's food security? by Rajni Bakshi
Traversing 20 states of India the Yatra had a three point agenda: Food, Farmers, Freedom. On December 11, while the bulk of yatris were at Raj Ghat, their representatives went to meet Congress president Sonia Gandhi. The list of demands they submitted provides a bird's eye view to the war that is now taking shape. Proponents of Kisan Swaraj want both the government and private sector to, among other things: 1. Stop treating...
More »RBI's policy dilemma
This week’s good news on food price inflation was evened out by the bad news on fuel prices hike. But, both were along expected lines. Thanks to the so-called “base effect” — the fact that last year this time food prices were rising sharply and since last year’s prices become the denominator in this year’s price ratio, the rate of inflation would be expected to moderate — and to an...
More »Temperate accord on climate change
It would have been dismal if the low expectations for the United Nations climate change conference at Cancún had not been exceeded. This weekend’s unexpected, last-minute accord from nearly 200 countries will not save the planet. Huge obstacles remain. Nonetheless, the meeting produced the first UN-adopted pact to cut carbon emissions since Kyoto in 1997. Cancún was a success, albeit a modest one.It is not surprising that there is no...
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