-Reuters A shortfall in monsoon rains has widened to nearly 50 percent of average in the past week, making a revival next week crucial for farmers to sow summer-planted crops such as rice, corn, cane, cotton and soybean. The annual rains are crucial for farm output and economic growth as about 55 percent of the South Asian nation's arable land is rain-fed. Farm sector accounts for about 15 percent of a nearly $2-trillion...

-The Economic Times Union Food and Consumer Affairs Minister KV Thomas is worried about the climbing food inflation. But international demand-supply situation and rising crude prices make it tough to rein it in, says the minister in an interview with ET. Excerpts: There's a fear of below normal monsoon this year. But we have opened up our farm exports including key commodities like sugar, wheat and rice. We have ample stocks of foodgrain...

-The Business Standard   Lopsided fertiliser policy is damaging farm output Even as the indifferent monsoon is threatening to affect crop sowing in the current season, the recent spike in the prices of some fertilisers and related developments in the fertiliser sector are adding to disquiet over kharif production prospects. The government’s move to slash subsidies on non-urea fertilisers early this year, coupled with the rupee’s depreciation, has led fertiliser companies to substantially...

The oil marketing companies are likely to slash the petrol prices by up to Rs. 4 a litre from July 1. The trigger: The steep fall in global prices of crude oil as well as petrol on which the companies base the domestic prices every fortnight. The price cut will come as a big respite for the consumer after the recent increase of Rs. 7.54 a litre on May 23...

Plans are afoot to cap the number of subsidised LPG cylinders at six to eight per annum to reduce the losses of state-run oil firms and bring down the burgeoning subsidy bill. Oil ministry officials said consumers might have to pay more for every additional cylinder, and the amount would be gradually linked to market rates. Sources said the finance ministry had asked the oil ministry to revisit its proposal made last...