-NetworkIdeas.org Central banks all over the capitalist world are raising, or are about to raise, interest rates as a means of countering the currently rampant inflation, which is certain to push a world economy that is barely recovering from the effect of the pandemic, back towards stagnation and greater unemployment. Of course the Federal Reserve Board of the US which sets the standard in this respect for all other central banks, claims...

-Hindustan Times Unseasonal rains also damaged lemon crops during the flowering stage in several states in January and then, a heatwave while March-April harvesting crimped output. In April, prices leapt to unseen levels, reaching up to ₹200 a kilo. New Delhi: Extreme weather that scientists have linked to climate change has hit output of several crops this year, making fruits and vegetables costlier. The average retail price of tomatoes, a basic ingredient of...

-Livemint.com India’s wheat export proscription was the first signal of awareness that moves on many fronts are needed for inflation control The Indian export ban on wheat in mid-May drew much negative attention. For the record, it is a ban on private sector wheat exports, and leaves open government-to-government contracts. The widespread criticism of the ban was misplaced in my opinion. Private wheat traders had responded exuberantly to the global demand for wheat...

-The Tribune With policy-backing, subsidies and availability of easy credit, farmers are being pushed to buy more machines. Punjab has five times more tractors than required. As more technological gadgets and machines are promoted, farmers are increasingly sucked into a debt cycle, while equipment manufacturers are laughing all the way to the bank. At a time when farmers across the world are struggling to recover their cost of production, an Oxfam report...

-The Telegraph Downward revision was expected as omicron variant and start of Russia-Ukraine war hit Q4: Economist New Delhi: Growth in the fourth quarter of 2021-22 (January-March) slowed to a crawl at 4.1 per cent, reflecting just how enfeebled the economy had become because of weakening demand and a broad-based surge in prices that sent inflation to an eight-year high at 7.79 per cent in April. The slowdown meant that the fourth quarter...