The government put out a promised new price index on Friday that will capture changes in prices of goods and services sold at the retail level, helping the government and the central bank get a better grip on policy tools while tackling inflation. Central banks world over rely on retail prices while framing monetary policy, but the Reserve Bank of India has had to consider mostly the wholesale price index...

While inflation has been hitting people hard across the country, the rate of price rise has been the most in Kerala, Orissa and Meghalaya, as per government data released today.     In all three states, the consumer price index (CPI) overall stood at 108 in January from a base of 100 in 2010, suggesting inflation of 8 per cent. Incidentally, even richer states like Maharashtra, Gujarat, Haryana, Delhi and Punjab reported a...

Even as everyone is celebrating the bounce in the economy with a return to 8.5 per cent growth, the jury is out on the accuracy of the agricultural output numbers. The impressive 5.4 per cent agricultural growth rate number is suspect if one looks at recent trends in farm productivity and output. The agriculture ministry anticipates foodgrain output to grow by 6.4 per cent to 232 million tonnes in 2010-11....

Bihar Chief Minister Nitish Kumar made a strong pitch for bringing to an end the policy of implementing Centrally-sponsored schemes in states, saying the Centre should confine itself to broad policy making. "You (Centre) develop policy and broad roadmap. Leave the decision on schemes for states. Stop Centrally-sponsored schemes. You give us task...you decide a target and help and monitor us but why going into minute details?," Kumar asked. Speaking at a...

Food security scenario has been very grim in Orissa. It is getting grimmer day-by-day, thanks to the high food Price Inflation on the one hand and climatic aberrations like droughts, floods or untimely rains on the other. These extremes hurt the State most, as it has the maximum poor populace in the country. Data details the enormity. Around 9 per cent households face grave food security in the State. The proportion...