In an all-too-rare political consensus, India’s Central government and 10 states on Thursday decided to take a call in the following few weeks on reintroducing harsh laws that will severely punish hoarders in order to mitigate food inflation. A core committee comprising representatives of the states and the Centre, and led by Prime Minister Manmohan Singh, appointed three sub-groups to come up with a solution within 45 days. One of the...

With food inflation still in double-digits, the first meeting of the Core Group of Central Ministers and State Chief Ministers on Prices of Essential Commodities is being held here on Thursday. Prime Minister Manmohan Singh will preside. Ten Chief Ministers are expected to attend. The States that will be represented include Chhattisgarh, West Bengal, Punjab, Haryana, Gujarat, Bihar, Maharashtra, Tamil Nadu and Assam. Union Finance Minister Pranab Mukherjee heads the group,...

As the nation debates the National Food Security Act (NFSA) and its implications on food security for the country, it is pertinent to pause for a moment and ponder some of the structural reasons for the mismanagement of the food economy of the country. Forget the past or the future or even the present set of policies being pursued. The UPA-II is pushing the nation inexorably towards a regime of...

Food inflation rose marginally to 16.35% for the week ended March 20 mainly on account of high prices of pulses and milk. The inflation stood at four-month low of 16.22% for the week ended March 13. The rise in food prices is mainly driven by pulses, which became dearer by 31.55%. Milk prices rose by 18.74% on the yearly basis. On weekly basis, the index for food articles rose by...

India may keep on hold plans to raise prices of subsidised food grains for welfare schemes to cut its subsidy bill, unwilling to take an unpopular step when inflation remains high, a government source said on Thursday. The senior food ministry official, who did not wish to be identified, told Reuters the proposal was before the Union cabinet and “seems to be put in abeyance for the moment”. He was responding to...