If the price rise is due to production shortfall, how does one explain the near doubling of the price within a few days? The sharply rising onion prices have raised the suspicion that speculators are manipulating a shortage situation. First, a few facts. In retail markets, onion prices have soared from Rs 10-11 per kg in June to as high as Rs 70-80 on Dec 21. Even more significantly, prices zoomed by...
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“Price rise a major issue”
Finance Minister Pranab Mukherjee has admitted that price rise was a major problem confronting the United Progressive Alliance government in its second term. In a book brought out by the Congress with Mr. Mukherjee as its chief editor, he has said: “Inflation based on high prices of foodgrains continues to be a challenge.” The book Congress and the Making of the Indian Nation was released at the just-concluded party plenary marking...
More »Plan to link NREGA wages to inflation hits CP Joshi wall by Priyadarshi Siddhanta
Rural Development Minister CP Joshi has refused to move on a proposal by the Planning Commission to link wages under the national job guarantee scheme to the consumer price index. In fact, the Plan panel’s proposal was echoed by the National Advisory Council chaired by UPA Chairperson Sonia Gandhi.In a presentation to Prime Minister Manmohan Singh recently, the Planning Commission made a strong case for aligning the wage levels to...
More »The political price of onions
The spectre of rising onion prices is haunting Indian politics again. As prices trebled over a period of three weeks, touching Rs.90 a kg in some parts of the country, the liliaceous plant, whose bulb is the mainstay of many Indian staple recipes, became a topic of debate and discussion not only for ordinary consumers, but for economists and policymakers as well. India is the world's second largest producer of...
More »India bans onion exports after eye-watering price rise
India's government has banned the export of onions after the vegetable doubled in price in the past week. The rise has been blamed on unusually heavy rains in growing areas, as well as on hoarders and speculators. Prices have jumped to 70 rupees ($1.55; £0.99) per kg from 35 rupees last week. The ban is until 15 January and India is importing onions to ease shortages. Onions are a basic ingredient in many...
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