-PTI Prime Minister's Economic Advisory Council today said poor monsoon is likely to pull down farm sector growth rate to 0.5 per cent in the current financial year, a projection that is even lower than in 2009-10 when monsoon was the worst in 28 years. The growth in the agriculture sector was one per cent in 2009-10 when production had fallen by 16 million tonnes due to poor monsoon. As many as...
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Poor response from states on FDI in multi-brand retail
-The Times of India With the UPA government's efforts to build a consensus on allowing foreign retailers in the multi-brand retail sector going nowhere, Prime Minister Manmohan Singh on Wednesday urged the UPA allies to help evolve a consensus on the reforms measure. Participating in the first meeting of the newly set-up UPA co-ordination committee, PM said that it was necessary to build support for the move to let in foreign retailers. The...
More »Switch from farm subsidy to farm investment-Ashok Gulati
-The Economic Times With a weak monsoon, farmers and farm labour, agri-investors and policy makers, everyone is looking up in the sky and praying for more water to pour. Farm analysts are debating whether this will lead to a drop of 16 million tonnes of foodgrain, as it happened in 2009, or 38 million tonnes, as it did in 2002. NCAER is projecting 20 million tonnes drop in grain production in...
More »US politicians must regulate finance to tackle the drought and food-price crisis-Raj Patel
-The Guardian US leaders worked hard to tackle the 1930s drought and food crisis. Today they are supine, offering the hungry only prayers If you're wondering whether the US drought will create a global food crisis, the answer's easy. It's yes, because there's a food crisis already. The latest year for which we have figures is 2010, when 925 million people were declared malnourished. Soon after the number was announced, the World...
More »For real inclusion, agriculture and not just the economy must grow fast
-The Economic Times The latest consumption figures from the National Sample Survey Organisation show that rural consumption grew 18% in the two years to 2011-12. Poverty fell by roughly 7% in villages and 1% in towns. The town-country gap in incomes narrowed. This is welcome but needs to be qualified. 2009-10 was a drought year, depressing consumption and thereby exaggerating the improvement registered two years later. Over a longer seven-year period, between 2004-05...
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