The oil marketing companies are likely to slash the petrol prices by up to Rs. 4 a litre from July 1. The trigger: The steep fall in global prices of crude oil as well as petrol on which the companies base the domestic prices every fortnight. The price cut will come as a big respite for the consumer after the recent increase of Rs. 7.54 a litre on May 23...

-World Watch Institute An estimated 70.2 million hectares of agricultural land worldwide have been sold or leased to private and public investors since 2000, according to new research conducted by the Worldwatch Institute (www.worldwatch.org) for its Vital Signs Online service. The bulk of these acquisitions, which are called “land grabs” by some observers, took place between 2008 and 2010, peaking in 2009. Although data for 2010 indicate that the amount of...

-The Telegraph   Ashok V. Desai,consulting editor of The Telegraph and chief consultant to the finance minister when Manmohan Singh launched the economic reforms, takes a deep dive into statistics to figure out what is wrong with the economy as Pranab Mukherjee leaves the finance ministry and Singh takes charge The growth rate of gross domestic product is reported to have come down. What does that mean? Before the question can be answered,...

-NDTV Tamil Nadu Chief Minister J.Jayalalithaa has shot off yet another letter to the Prime Minister. In her latest communication, the AIADMK Chief has flagged concerns of farmers in the State over the "introduction of the Nutrient Based Subsidy Scheme (NBS) by the Government of India from the 1st April, 2010, coupled with an unreliable supply of fertilizers" that she feels is "threatening to deprive our farmers of their basic means...

IRONY RUNS its play every year in India as food grains rot in godowns while 23 crore people go hungry every day. GOI Monitor talks to food and trade policy analyst Devinder Sharma on the issues stalking agriculture and public distribution    One of the reasons for surplus food not reaching the needy is that states are not picking up the grain. Why is this happening? Food grain procurement and distribution is...