Wholesale price-based inflation rose to 9.89 per cent in February from 8.56 per cent in the previous month due to increase in prices of certain food items such as sugar and the hike in excise duty on fuel announced last month. Sugar prices rose by 55.47 per cent in February year-on-year while potatoes turned costlier by 30 per cent and pulses by 35.58 per cent. Among fuel items, petrol prices...

With food prices showing no signs of abating and the impact of the fuel price hike in the latest budget making its presence felt, inflation moved fast towards the double-digit mark, touching 9.89 per cent in February, the highest in 16 months. The wholesale price-based inflation stood at 8.56 per cent in January. This could well cross the double-digit mark in March, experts said. Finance Minister Pranab Mukherjee had earlier said the...

WELL before Budget 2010-11 was presented, inflation had emerged as the principal economic problem in the country. With food-price inflation running at close to 20 per cent, even the United Progressive Alliance (UPA) government at the Centre had been forced to recognise it as a problem that deserved as much attention as the objective of achieving a 9 or 10 per cent rate of growth, if not more. In fact,...

Forget the rhetoric, the FM’s left little for core social sectors The Union finance minister’s enthusiasm in marking the roadmap to financial discipline and pushing reforms in Budget 2010 is somehow missing in his proposals for inclusive growth. These proposals lack the required homework—in referring to relevant literature, including some recent government reports, and in making estimates of the required funds—and certainly do not reflect much commitment to inclusive growth. Agriculture—which...

Orissa will soon formulate a state food processing policy to woo private investment in this potential sector. “A draft policy has been circulated among all stakeholders for their comments after which it will be finalised,” said chief minister Naveen Patnaik while inaugurating an agri and food processing conclave here today. Inviting private investors to invest in this sunrise sector, Naveen assured all necessary support required to promote agri and processed food products. Stating...