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Rains to revive in 2 days, help soybean by Ratnajyoti Dutta

India’s annual monsoon rains should revive in two days after a 10-day lull, the weather office said on Monday, raising hopes for a pick-up in soybean planting in the world’s biggest edible oils buyer. The June-September rainfall, which irrigates 60% of the country’s farms and drives rural incomes, is vital for the trillion-dollar economy. A healthy rainfall despite the slow progress could help Prime Minister Manmohan Singh tame high double-digit food...

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Govt raises monsoon forecast by Ruchira Singh and Mayank Bhardwaj

India’s annual monsoon rains, key to farm output and economic growth, are expected to be better than previously forecast, raising prospects of good harvests and possibly helping to cool double digit food inflation. The monsoon rains, which deliver 75-90% of the country’s rainfall, were expected at 102% of the long-term average, government officials said on Friday, raising an earlier forecast of 98%. Bountiful rains despite slow progress of the June-September monsoon will...

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India to scrap petrol subsidies

The Indian government has opted to scrap its subsidy of petrol prices in an effort to cut its budget deficit. Ministers also voted to raise the price of other fuels, including diesel and kerosene gas in an effort to raise money. India's fiscal deficit is forecast to hit 5.5% of GDP by 2010-11. But the move is likely to be politically unpopular, and there are concerns that higher fuel prices will...

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Food, fuel and farms

The Food and Agriculture Organisation (FAO) and the Organisation for Economic Cooperation and Development (OECD) have warned that farm commodity prices, especially foodgrains, may rise by as much as 40 per cent by the end of this decade. This warning must be taken seriously given its implications for food insecurity. FAO’s Agricultural Outlook 2010-2019 projects prices of wheat, coarse grains and dairy products rising by 15 to 40 per cent...

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Mandatory cheap foodgrains for poor may cause hike in Oil Prices by Gargi Parsai

It is the availability of adequate foodgrains to meet the mandatory requirements under the proposed National Food Security Bill that worries the government, not the enhanced subsidy such a move would entail. From what the government is planning it appears that the subsidies on petroleum products would go to meet the requirement of providing cheap foodgrains to the poor under the Public Distribution System (PDS) and to bring the Above...

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