-The Business Standard Central bank chief Raghuram Rajan likely to retain stance later this week, say economists Inflation in onions skyrocketed to 244.62% in August against already high 119.4% in the previous month, jacking up the the rate of wholesale price rise to a six-month high of 6.10% from 5.8% in July, official data showed today. Ironically, onion prices can't be brought down by interest rate policy, but it is all set to...
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Government seeks to woo Nitish with new backward state measure
-The Times of India NEW DELHI: An expert committee under chief economic advisor Raghuram Rajan has identified 10 parameters for a new Composite Development Index, whose adoption by the Centre will change the way thousands of crores are transferred annually and can potentially set the stage for realignment of political forces in Bihar before the 2014 polls. The new index seeks to rate states on the basis of their distance from the...
More »It’s official: Indian economy slowed to a 10-year low of 5% in 2012-13
-The Times of India The Indian economy grew at its slowest pace in a decade in 2012-13, posing another fresh challenge for the UPA coalition to revive growth and boost sentiment ahead of the general elections next year. Data released by the Central Statistical Organization (CSO) on Friday showed that the economy grew 5% in 2012-13, compared to 6.2% expansion in the previous year. It was in line with the advanced...
More »Panel starts work on definition of backward states-Sidhartha
-The Times of India NEW DELHI: The expert panel to decide the new yardstick for backward states, meant to benefit states such as Bihar, kicked off discussion on Tuesday with committee members looking at possible parameters. Sources present in the meeting said some historical and social indicators were discussed but talks were exploratory. "It was a broad discussion. It will take a few more sittings to come to any conclusion," said Asian...
More »Kalahandi: from hunger deaths to a rice revolution -Chetan Chauhan
-The Hindustan Times Odisha's Kalahandi district - once the cause of global embarrassment for India due to its high number of starvation deaths - today stands tall with a five-fold increase in its rice production since 1999, figures reveal. The agriculture ministry's recent crop data ranks Kalahandi among the top 25 rice producing districts of India. The three-year average of its rice production ending 2010-11 was 468,000 tonnes, compared with a three-year...
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