-The Economic Times   India's frequent ban on export of foodgrains and other farm commodities may soon become a thing of past as the commerce department is working on a policy to allow traders meet their exports obligations even in times of domestic shortages through imports.  The move will help India restore some global credibility as it has often faced flak for its banning spree.  "Once we are ready with the proposal, it will...

-Live Mint Realized prices for the farm sector continue to soften even though the government has raised the minimum support prices by over 20% Like every year the government has hiked minimum support prices to help the farmers realize good returns in early June, but India’s rural growth story is expected to run out of steam because of falling realizations of farmers and limited policy support, according to a recent report by...

Pointing out that fiscal deficit was a cause of concern, C. Rangarajan, Chairman of the Economic Advisory Council to the Prime Minister, said on Friday that action on reducing fuel and fertilizer subsidies would be taken “as early as possible.” “I would not like to put a time frame, I can only say that action will be needed and therefore will be taken as early as possible,” he told journalists on...

-The Hindustan Times The flood situation in Assam worsened on Thursday with new areas coming under water and the toll reaching 22. Altogether, 21 districts have been affected following the week-long incessant rains. The river has breached embankment at five places, affecting 1,744 villages across nine districts and 70,000 hectares of crop land. The situation in Kamrup, Nalbari and Bongaigaon in lower Assam worsened on Thursday, after the tributaries of Brahmaputra breached their...

-PTI India’s monsoon, vital for Asia’s third-largest economy, has been 22% deficient till June 26, official data showed, adding to the government’s worries and prompting Prime Minister Manmohan Singh to consult key aides on measures to tone up the economy on Wednesday. In a revised forecast, the Met department predicted the rains would be 96% of the long-term average, lower than its April forecast of 99%. Rainfall is considered normal if...