This week’s good news on food price inflation was evened out by the bad news on fuel prices hike. But, both were along expected lines. Thanks to the so-called “base effect” — the fact that last year this time food prices were rising sharply and since last year’s prices become the denominator in this year’s price ratio, the rate of inflation would be expected to moderate — and to an...

The Cabinet Committee on Economic Affairs today approved a plan by the Indian Council of Agricultural Research to prepare the nation’s crops, livestock and fisheries for rising temperatures and other impacts of climate change. The National Initiative on Climate Resilient Agriculture will receive Rs 350 crore for multiple projects — from developing heat-tolerant rice and wheat to tracking the spawning behaviour of marine and freshwater fish amid rising temperatures. The programme will...

From the time a farmer in India harvests his produce to the time it lands on your plate, farm products go through several layers of middlemen, wholesalers, cold chains and other intermediaries, which push its price up by many notches. The end result: growers get paid less and consumers pay more. The stranglehold that the government has over agriculture produce marketing in India has given rise to abject inefficiencies, lack...

Ratan Tata has initiated an interesting debate on the nature of India’s capitalist class. His characterization of this class as crony capitalists may not be out of place given recent evidence on a politics, media, judiciary and corporate nexus.Crony capitalism is a system in which businesses multiply their wealth not by fair rules of the market, but through their nexus with governments. Classic examples are the distribution of legal permits,...

The Supreme Court today asked central vigilance commissioner P.J. Thomas to explain why his appointment as head of the country’s top anti-corruption watchdog shouldn’t be scrapped even as the embattled bureaucrat hung on to his post. The notices to Thomas and the central government were a first from the court, which had so far only questioned Thomas’s appointment as CVC for his alleged involvement in a palm Oil import case. The vigilance...