The government is likely to peg fertiliser subsidy for next financial year at Rs 66,000 crore, lower than the actual outgo in 2011-12.  "A moderate increase is likely," said a government official. The actual subsidy bill for the fiscal is likely to come at over Rs 70,000 crore though the government had budgeted for just Rs 49,997 crore in the budget 2011-12.  Private analysts had soon after the presentation of the last...

In a move that could hurt millions of farmers, the government plans to increase the price of urea and link it to the price of gas in an attempt to reduce its burgeoning fertilizer subsidy bill. Urea is the only fertilizer that has a maximum retail price (MRP) still controlled by the government, which deregulated those of all others in April 2010. Urea sells in the market at Rs.5,310 per tonne,...

-The Times of India Making a strong pitch for raising diesel prices, Prime Minister's Economic Advisory Council chairman C Rangarajan on Wednesday said there was a need to revise prices to reduce the huge subsidy burden and bring down the fiscal deficit.  While releasing the economic review for 2011-12, Rangarajan said it was earlier agreed to deregulate diesel prices but the decision was never implemented. He advocated a phased deregulation of diesel...

West Bengal: An agrarian crisis looms over the State as farmers commit suicide in spite of a bumper crop. THE topic of suicide figured repeatedly in Safar Molla's conversations with his neighbours a few days before his death. The 18-year-old marginal farmer from Kaltikuri village in Bardhaman district's Bhatar block talked about it quite casually, in fact even jocularly. Everybody in the village knew he was up to his neck in...

Baishakhi Ghosh sits at the threshold of her home at Kauri village in Bardhaman district with her new-born son, but breaks into tears as her mother feeds her a sweetmeat — part of the rituals of bringing her first grandchild to the home for the first time. Alternating between wailing and consoling each other, the women of the household of Bhootnath Pal, a farmer who was found hanging from the...