Indian officials are unconcerned about loud complaints by the European Union and Western-backed nongovernmental organisations about the "weak text" of the final declaration of the Rio+20 summit.   India is satisfied, having already fended off earlier attempts to remove two key principles. The first is the concept of "common but differentiated responsibilities" - namely, that rich and poor countries cannot be expected to equally bear the costs of green policies . The second...

-The Business Standard MSP hikes will stoke food inflation The government’s new kharif pricing policy, suggesting a steep 16 to 53 per cent increase in the minimum support prices (MSPs) of various crops, is unlikely to fully satisfy farmers even as it will stoke food inflation and swell the food subsidy bill. Approval of the new prices by the Cabinet Committee on Economic Affairs (CCEA) came on the day that inflation numbers...

-The Telegraph Costlier food items carried inflation up to 7.55 per cent in May, and the price situation could get aggravated further by the government’s decision to raise the minimum support price of paddy, oil seeds and pulses. However, the Cabinet Committee of Economic Affairs (CCEA) deferred a decision to raise urea prices because of opposition by some ministries. Inflation in May last year stood at 9.56 per cent. Overall food inflation rose to...

-The Economic Times The government has increased the minimum support price (MSP) for the kharif season in a range of 16% to 53% to motivate farmers and compensate for higher input costs but the higher purchase prices could stoke food inflation further.  The Committee on Economic Affairs ( CCEA) on Thursday raised the MSP of paddy by Rs 170 per quintal and those of oilseeds like groundnut, sunflower seed and niger seed...

The OBC lobby within Congress blocked the government proposal to enhance 'creamy layer' for reservations to Rs 6 lakh, protesting it was on the lower side. The resistance prompted Prime Minister Manmohan Singh to refer the issue for consultations.  The fresh look may be handed over to a group of ministers (GoM) or be done by social justice ministry that had moved the Cabinet note. Revised every four years, the 'creamy...