Wheat prices have staged the most drastic rise in more than 50 years, as a drought in Russia fuels growing worries that it could lead to a global shortage of the grain. Harsh heat and a lack of rain in Russia have killed half of the crop in some hard-hit areas. The slump in production in one of the world's most fertile breadbaskets has pushed prices up 62% since early June,...
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‘Monsoon rises to normal in main crop areas’ by Ratnajyoti Dutta
India’s monsoon rains were about 3% above normal in July, the highest for the month since 2005, making a repeat of last year’s crop failure and food-led inflation surge unlikely. Heavy rain since the third week of July has brought readings above normal for the first time this monsoon season, according to weather office data, wiping out the seasonal shortfall in almost all major grain areas other than in the east...
More »MGNREGS wage payments worth crores remain unpaid by Ruhi Tewari
The government owes crores of rupees to workers under its flagship rural jobs scheme as wages for April and May, even though payment is not supposed to be delayed by more than a fortnight. Wage payments of Rs283 crore are due for the first two months of the ongoing fiscal under the Mahatma Gandhi National Rural Employment Guarantee Scheme, according to data available with the rural development ministry, which oversees the...
More »Does the govt know how to control rising prices? by Subodh Varma
Does the government really have any clue about how to go about controlling prices? A quick survey of statements made by everybody from the prime minister downwards shows a picture of groping in the dark, while handing out empty assurances from time to time. What is worse, it's all smoke and mirrors for the public. Coming as it does from a government that is loaded with top-notch economists, it is...
More »Inflation: A nation forced to go on distress diet by Rukmini Shrinivasan
After nearly 15 straight months of double-digit Food inflation, the government announced on Thursday that Food inflation had dipped to 9.67% for the week that ended on July 17. That's small consolation for most Indians, particularly the poor, who have seen a relentless assault on their food budgets that has resulted in essential items being dropped from the menu, giving rise to a whole new enforced "austerity diet". Since no...
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