The central vigilance committee led by retired Justice D. P. Wadhwa, which was established by the Supreme Court of India to monitor its orders in the PIL on the right to food, has come out with a strong indictment of the public distribution system (PDS). Based on State-level reports for Delhi, Orissa, Bihar, Jharkhand, Uttarakhand, Rajasthan, Gujarat, and Karnataka, the committee has identified widespread corruption at different levels of the...
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EGoM likely to clear draft food security Bill tomorrow
An empowered ministers' panel meeting tomorrow is likely to take some decisions to tackle price rise and finalise the draft Food Security Bill, which seeks to give the poor the right to get rice and wheat at Rs 3 per kg. The empowered group of ministers, headed by Finance Minister Pranab Mukherjee, is scheduled to review the minimum export price (MEP) for Basmati. In the face of high food inflation, the...
More »Government-led inflation
Food inflation remains extraordinarily high at 17.79%. The government emphasises supply problems caused by last year’s drought, But a bigger and less reversible problem is government-led inflation through big increases in the Minimum Support Prices (MSP). The MSP for wheat and paddy rose only modestly between 2002-03 and 2005-06 , from Rs 620 to Rs 650/ quintal and from Rs 530 to Rs 570/quintal respecticely. But after that the MSP shot...
More »Inflation moving fast towards the double-digit mark
With food prices showing no signs of abating and the impact of the fuel price hike in the latest budget making its presence felt, inflation moved fast towards the double-digit mark, touching 9.89 per cent in February, the highest in 16 months. The wholesale price-based inflation stood at 8.56 per cent in January. This could well cross the double-digit mark in March, experts said. Finance Minister Pranab Mukherjee had earlier said the...
More »Inflation rises to 9.89% in February
Wholesale price-based inflation rose to 9.89 per cent in February from 8.56 per cent in the previous month due to increase in prices of certain food items such as sugar and the hike in excise duty on fuel announced last month. Sugar prices rose by 55.47 per cent in February year-on-year while potatoes turned costlier by 30 per cent and pulses by 35.58 per cent. Among fuel items, petrol prices...
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