Government sat on grain stocks while food prices shot up In july 2008, when inflation rose to a 10-year high of 11 per cent and industry was hit by a range of factors, including economic recession, the Union government responded immediately. There were day-on-day monetary interventions. Since July 2009, inflation, as calculated by the prices poor consumers pay for their daily needs, has hovered around 11 per cent, again a 10-year...
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Sugar nears Rs 50 a kilo, govt helpless
Packaged sugar now costs Rs 46 a kilogram in the Retail market and there are no signs of prices levelling off. With loose sugar also costing Rs 43-44 a kg, the poly-packed product is inexorably moving towards the Rs 50 a kg mark, with the government appearing helpless in containing the spiralling prices. The steady rise in sugar prices since the second half of last year is a consequence of...
More »Big corporates to train 1.1 lakh poor youth under NREGS by Gunjan Pradhan Sinha
Companies such as L&T, IL&FS, Dr Reddy’s and NIIT will soon train and employ youths from Below Poverty Line (BPL) families, based on the success of a pilot project in Rajasthan and Chhattisgarh, implemented under the National Rural Employment Guarantee Scheme (NREGS). The National Rural Livelihoods Mission, to be taken to the Cabinet by the Rural Development Ministry soon, envisages the training of 1.1 lakh unskilled youth over the next...
More »Finance panel wants deficit cut back by Sanjiv Shankaran and Utpal Bhaskar
The 13th Finance Commission (TFC) has recommended a return to fiscal consolidation and reform in expenditure management. It has also suggested the Centre offer states a share of revenue raised from levies such as cesses and surcharges, according to people familiar with the report. TFC, a statutory body tasked with suggesting ways in which taxes should be shared between the Centre and states and drawing up a road map towards fiscal...
More »Farmers' travails
Replying to a question in the Rajya Sabha on farmers falling into a debt trap, the government came out with data that are startling. Rice farmers have suffered losses in all regions save Andhra Pradesh over three cropping years ending in 2006-07, with wheat farmers faring a little better. Even today, news reports suggest that farmers do not really gain much even as consumer prices go through the roof. This...
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