With the Union government refusing to play Santa Claus and regulate market forces, the merciless rise in onion prices threatens to mar Christmas, New Year and Makar Sankrantri festivities. With several markets reporting a further rise in prices to about Rs.85 a kg, Prime Minister Manmohan Singh intervened, by directing the Ministries of Agriculture and Consumer Affairs to take steps to bring its prices to affordable levels. According to sources, the Prime...

The Prime Minister’s Office has given direct orders to top officials of Sharad Pawar’s department to get cracking after the food minister said it would take “two to three weeks” for onion prices to stabilise. Sources said an annoyed Manmohan Singh has conveyed to Pawar that the time frame set by the minister is too long, especially since prices have skyrocketed within a week. Expressing deep concern over the “extraordinary price rise...

Retail giants pushing the European Union-India free trade deal promise consumers a "new and dynamic Retail experience" but ignore the fate of India’s "mom-and-pop" stores and some 40 million people they employ. Four years in the making, the EU-India Bilateral Trade and Investment Agreement made serious headway during Indian Prime Minister Manmohan Singh’s visit to Brussels Dec. 10 and is due to be signed and sealed early 2011. But the negotiations have...

No celebrity visits or satellite banking system? Never mind, bring on ‘suppat’. Unlike Doba, three other villages of Lohardaga district may not have been lucky enough to get Reserve Bank of India’s smart card based satellite-banking system. But they have a ‘suppat’ surprise up their sleeves. ‘Suppat’ or ‘super’ in tribal dialect, is also the name of a rural chain of mom-and-pop stores initiated by a private party, Dynamic Tarang Pvt Ltd,...

Retail price of onions has surged to Rs. 60-70 a kg within a couple of days NOCs will not be issued to exporters till January 15 Minimum export price raised to $1,200 a tonne The government on Monday announced suspension of onion exports till January 15 in a last-minute effort to cool prices of the poor man's essential vegetable from the prevailing high of Rs. 60-70 a kg. In a twin strategy, while the...