PM Manmohan Singh disputed the estimates of huge loss from the spectrum swindle by citing the subsidies given to the poor on food and kerosene in his interaction with the media on Wednesday. Responding to a question on whether he agreed with telecom minister Kapil Sibal that there was zero revenue loss on 2G, he said there could be no opinion on such an issue, stressing that many consider the...
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Inflation jumps to 17.05 pc from 15.57 pc
Food inflation soared to 17.05 per cent for the week ended January 22, rising for the second straight week, on the back of costlier vegetables, fruits and milk. Food inflation rose by 1.48 percentage points from 15.57 per cent in the previous week. The food inflation last year had stood at 20.56 per cent. On an annual basis, onion prices rose by 130.41 per cent in the third week of January,...
More »Urgent steps needed to curb rising food and other commodity prices, UN warns
Senior United Nations officials today called for urgent steps to rein in the rising prices for basic farm produce, petroleum and raw industrial materials whose volatility hits the world’s poorest people the hardest. “Such volatility has huge negative impacts on vulnerable groups, such as low-income households in developing countries, for whom food expenditure can account for up to 80 per cent of household budgets,” UN Conference on Trade and Development...
More »In Mizoram’s rice bowl, oil’s well by Samudra Gupta Kashyap
Mamit district, known as the rice-bowl of Mizoram, has its eyes set on oil palm to provide a new crop to its farmers and at the same time contribute to the state’s agro-based economy. While the state agriculture department introduced oil palm cultivation in 2001, Mamit rather woke up a little late. But since 2007, nearly 4,500 farmers in 45 villages in the district have taken up oil palm cultivation. “We introduced...
More »Food inflation is no mystery by Soma Banerjee
If you thought only onion made headlines and governments fall, here is some more food for thought. The retail prices of brinjal soared 110% and those of tomato by 125% between the first weeks of November 2010 and January 2011, while the rise in crude oil paled in comparison, climbing about 12% in the same period. While import-dependent economies are struggling to keep their fiscal math in shape with crude...
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