The countrywide share of corporate retail in food distribution tripled in the past four years when retail food prices showed the greatest increase. THE dramatic increase in food inflation over the past two years has been associated with several surprises. One major surprise has been how the top economic policymakers in the country have responded to it. The initial response was one of apparent disbelief, followed very quickly by the...

Stir likely to be intensified if project gets green signal With the Union Ministry of Environment and Forests set to take a final decision on the proposed steel plant project of Posco-India Private Limited on Monday, Orissa villagers facing displacement have decided to intensify their agitation if the Ministry order went in favour of the company. That a majority of villagers in the three Gram panchayats of Dhinkia, Gadakujang and Gobindpur in...

Microcredit lifted 10 million Bangladeshis out of poverty between 1990 and 2008, according to a report. The work of Grameen Bank and others helped many families to raise their income above $1.25 a day, said the US-based Microcredit Summit Campaign. The study follows recent criticism of microfinance, which works by providing small loans to people to invest in generating their own incomes. Some experts argue the report may have missed the bigger picture. They...

Taking forward the reform process in the public distribution system (PDS), Orissa government today decided to abolish storage agent arrangement from April 1, the Utkal Divas Day. This was decided at a high level meeting chaired by chief minister Naveen Patnaik. After abolition of 863 storage agents spread over the state, the government would assign the job of stocking public distribution items to state run Orissa Civil Supply Corporation, official sources...

Fundamentally, our current crisis in food supplies as well as food prices arises out of the sidelining of Jawahar Lal Nehru’s dictum “everything else can wait but not agriculture”. Unfortunately, the last twenty years have been characterised by very low rates of agricultural growth, averaging around one percent per annum. This is almost equal to the rate of GDP growth during the last half century of British rule. In effect, in...