Prime Minister Manmohan Singh today asked states to waive local taxes, including octroi, as well as reform the outdated Agriculture Produce Marketing Committee Act, or Mandi Act, to help control a runaway food inflation. The Prime Minister also called for dovetailing organised retail chains with farm supply chains. “Supply chains need to be strengthened and these need to be dovetailed with organised retail chains for quicker and more efficient distribution of farm...

India's food prices are likely to ease, bringing down food inflation from stubbornly high levels, over the next two months as supplies of onions and other vegetables are expected to pick up, industry officials said Thursday. The country's food inflation rate surged to more than 18% in December as vegetable prices, particularly those of onions, spiked after unseasonal rain damaged crops. India's food inflation rate has slightly eased since then, but...

The United Nations Conference on Trade and Development (UNCTAD) today cautioned on rampant speculations in the global commodity markets which is fuelling unprecedented price hikes around the world, with worst effects on poor countries such as India. "Financial speculation in global commodities trade is a source for concern as it contributed to steep price hikes," UNCTAD's Secretary General Supachai Panitchpakdi said on the sidelines of a special meeting convened by UNCTAD...

Former DoT Secretary Behura and Raja's aide Chandolia also taken into custody, to be produced in court today The Central Bureau of Investigation on Wednesday arrested the former Union Communications and Information Technology Minister, A. Raja, and two officers who had worked under him, for their role in the grant of licences and allocation of 2G spectrum during 2008 in violation of established guidelines and procedures. Mr. Raja (47), as well...

Three farmers in three districts of Madhya Pradesh Monday attempted to commit suicide, in a grim reminder of the continuing crisis the state's farmers find themselves in after their crops were destroyed by frost. Ramji Marawi (28), a farmer of Saliwada village in Jabalpur, allegedly took poison along with his two sons Manish (8) and Manoj (4). They have been admitted to the Jabalpur Medical College Hospital, police said. 'For three days...