India’s annual monsoon rains, key to farm output and economic growth, are expected to be better than previously forecast, raising prospects of good harvests and possibly helping to cool double digit food inflation. The monsoon rains, which deliver 75-90% of the country’s rainfall, were expected at 102% of the long-term average, government officials said on Friday, raising an earlier forecast of 98%. Bountiful rains despite slow progress of the June-September monsoon will...
More »SEARCH RESULT
Total Matching Records found : 2232
Wheat stocks, storage crunch give FCI sleepless nights by Komal Amit Gera
At a time the country is facing high food inflation, its bread basket is sitting on colossal wheat stocks. The stocks, to the tune of 12 million tonnes, lying in godowns and open spaces in Punjab are giving sleepless nights to the Food Corporation of India (FCI). About 800,000 tonnes wheat moves out of Punjab in a month. Based on these figures, the state can clear about five million tonnes wheat...
More »Centre to release 5 million tonnes of wheat in open market next month by Gargi Parsai
Wheat to be sold to traders at Rs.12.50 a kg; decision on sugar deferred The Centre will release five million tonnes of wheat from its pool in the open market to enhance availability and maintain a check on prices. The wheat, to be released in July, would be available directly from depots for traders and retail buyers at a reserved price of approximately Rs.12.54 a kg. Wheat is selling in Delhi...
More »India to scrap petrol subsidies
The Indian government has opted to scrap its subsidy of petrol prices in an effort to cut its budget deficit. Ministers also voted to raise the price of other fuels, including diesel and kerosene gas in an effort to raise money. India's fiscal deficit is forecast to hit 5.5% of GDP by 2010-11. But the move is likely to be politically unpopular, and there are concerns that higher fuel prices will...
More »EGoM on Food Security awaits NAC’s views by Ravish Tiwari
The Empowered Group of Ministers (EGoM) on Food Security will have to wait for formal views from the National Advisory Council (NAC) before its next move on the government’s promise to legislate a National Food Security Act. The EGoM, which is scheduled to meet Friday, chaired by Finance Minister Pranab Mukherjee, did not list the Bill on its agenda for the meeting. While officials claimed that this was because Deputy...
More »
