Suresh Tendulkar created a flutter among policymaking circles when a committee led by him raised the estimate for poor households in the country to 74 million from the Planning Commission estimate of 65.2 million. The former chairman of the Prime Minister’s Economic Advisory Council explained why his numbers are more credible in an interview with ET’s Pooja Suri and Amiti Sen. Excerpts: Why did your committee decide to accept the...
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Give food stamps to poor instead of subsidised food: FICCI
The government should issue food stamps directly to families living below poverty line (BPL), instead of subsidised food, to ensure food security of the poor, an industry lobby said in a report. The Federation of India Chambers of Commerce and Industry (FICCI) said the current system of providing subsidised food items through the public distribution system (PDS) should be dismantled as it was plagued by leakages at different levels. It...
More »Food inflation rises to 16.49%
India's annual food inflation edged up for the second week, rising to 16.49% for the week ended May 8 as shown by the official data released on Thursday. The food inflation stood at 16.44% the previous week, up from 16.04% for the week ended April 24. Data on the wholesale price index (WPI) released by the commerce and industry ministry showed that food inflation rose though the index for this...
More »In India, Sometimes News Is Just a Product Placement by Akash Kapur
A businessman I know was approached by representatives of a leading Indian national newspaper and offered a deal: Give us a stake in your company, and we’ll give you advertising space and favorable editorial coverage. A publisher told me that she received a similar proposition: Pay us, and we’ll interview your authors and write features about them. Sushma Swaraj, the parliamentary leader of the Bharatiya Janata Party, has said that...
More »UN agency worried about India’s food inflation
A UN expert body on Thursday said surge in food prices in India is a matter of concern, but retail price inflation will cool down to 7.5% this year from around 12% last year. The UN Economic Social Commission for Asia and Pacific (Escap) also projected the economy to grow by 8.3% in 2010-11, compared to estimated 7.2% last fiscal, fueled by the recovery in investment and private consumption. “In India, consumer...
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