-The Times of India The Prime Minister's Office (PMO) has sounded an alert over a deficient monsoon, directing ministries to help states facing drought-like situations by operationalizing contingency plans to distribute seeds, augment fodder and power and deal with drinking water shortages. PMO said the monsoon season rainfall is likely to be 92% of the long-term average (LPA), less than the 96% LPA predicted in June that itself was a downgrade from...
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Higher food inflation in rural India: IMF paper-Dilasha Seth
-The Business Standard At a time when food inflation is on the upswing, an International Monetary Fund (IMF) working paper suggests it may not be as worrisome a factor, at least in rural areas. The paper says the rate of price rise in food items leads to lower income inequality in rural India. The reason is pretty simple: rural areas comprise food producers as well. Also, non-food inflation results in higher income inequality...
More »The perils of retail therapy in India
-Live Mint There is no dearth of advisors for a government considered to be in the grip of a policy paralysis and whose prime minister is dubbed an “underachiever”. In this season of India-bashing, US President Barack Obama spared some time from his election campaign and offered some pearly words of wisdom on the Indian economy. This came at a time when in his own backyard, thousands of people marched in...
More »Monsoon worry mounts, food prices rise sharply-Zia Haq
-The Hindustan Times Despite a pickup in rainfall last week, the southwest monsoon remains in deficit by a significant 22%, almost certainly lowering annual production of grains, pulses and oilseeds, the three crops where sowing has been worst hit. The Met office’s estimate coincided with the release of food inflation data that showed a worrying 10.81% rise in June from a year earlier, up from a 10.74% rise in May, an...
More »UN food and agriculture agency warns about negative impact of food speculation
-The United Nations The world needs to take a hard look at speculation on the financial markets and its potential impact on food price volatility, the head of the United Nations Food and Agriculture Organization (FAO) said today. “Excessive food price volatility, especially at the speed at which price swings have been occurring since 2007, has negative impacts on poor consumers and poor producers alike all over the world,” FAO’s Director-General, José...
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