-The Economic Times The food and consumer affairs ministry plans stern action to curb any speculative trading of grains in the futures market after an emergency meeting slated for later this week to review the price situation. Food and consumer affairs minister KV Thomas is taking a daily stock of prices as the country grapples with a below- normal monsoon. "After reviewing the situation in the futures market, we will send the...

Union minister for consumer affairs, food and public distribution KV Thomas tells Nitin Sethi that it makes better sense to distribute stocked foodgrain to people of the country than subsidise exports. Possible spread of drought that the government is looking at... At the moment, monsoon rainfall is 23% below the long term average. But we have to wait another 15 days to know the full situation. We had discussion in the presence...

-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...

-The Hindu Business Line The Government may consider imposing stockholding limits on various agri-commodities to curb rising prices. It may also review the export policy on agri-commodities such as sugar and rice in August by which time there will be a clearer picture on the monsoons. “We are reviewing the price situation and are in constant touch with the State Governments. We will also examine the option of imposing stockholding limits on...

-AFP Annual monsoon rains, crucial to India's economy, covered the country on Wednesday but remained 23 percent below average, sparking fears of their impact on two cereal-producing states. The pounding rains that sweep across the continent from June to September are dubbed the "economic lifeline" of India, which is one of the world's leading producers of rice, sugar, wheat and cotton. "The monsoon is covering the entire country today with parts of Gujarat...