-The Business Standard   Concerned over rising inflation, the Inter-Ministerial Group (IMG) today suggested opening up multi-brand retail to foreign investors and changes in agriculture marketing laws to check the rate of price rise. “We are taking a clear position on Foreign Direct Investment (FDI) in multi-brand retail. Of course, it is a recommendation, not policy,” said chief economic advisor and IMG chairman Kaushik Basu. The IMG, he added, favours formulation of a...

-The Business Standard   Only anecdotal evidence has been available so far to back the assertion that there has been a sharp rise in agricultural wages. Now, field data bear out the trend. Collected by the Shimla-based Labour Bureau, these numbers show a roughly 50 per cent cumulative rise in rural labour wages in the past two years. The increase in Andhra Pradesh has been assessed at over 40 per cent...

The government is likely to accept most of the recommendations of Sonia Gandhi-led National Advisory Council (NAC) on the proposed food security law despite warnings that the suggestions would add to subsidy burden, increase dependence on imports and distort the country's food economy. The food ministry has set out plans that are in line with the NAC's proposal to widen the scope of the legislation, which seeks to provide legal...

-The Business Standard   Union finance minister Pranab Mukherjee was being economical with the truth when he said that last Saturday’s petrol price hike decision was entirely that of oil marketing companies (OMCs). True, the government correctly but belatedly deregulated petrol pricing several months ago, but it is clear that despite a sharp increase in global crude oil prices in the past six months, the OMCs restrained themselves from increasing domestic...

Food minister K.V. Thomas is examining the possibility of bringing in a law to contain the wastage of food at weddings and other social gatherings. Will such a law be feasible, wonders Hemchhaya De The gala British royal wedding might have gripped the world, but are big, fat Indian weddings justified? It’s a poser that the Indian food minister, some senior Congress leaders and former bureaucrats are trying to deal with...