A problem of plenty is looming as by June 1, an estimated 12 million tonnes of foodgrain will have to be stored in the open in "kutcha plinths" with a bountiful Rabi harvest and procurement of 65 million tonnes of grain boosting food stocks to record levels. With states like Madhya Pradesh - apart from the wheat baskets of Punjab and Haryana - delivering bonus yields, food stocks are expected to...

-The Times of India In a decision that jeopardizes land allocated to corporates and institutions such as Microsoft, Wipro, Infosys, Emaar, Indian School of Business and Lanco, the Andhra Pradesh high court on Tuesday refused to entertain petitions that challenged the power of the Andhra state wakf board to notify 1,650 acres of in Manikonda village of Ranga Reddy district as wakf land. The court asked the companies to approach the tribunal...

Edible oil prices soared almost 10%-Rs 6 to 8 per kg-in the last one month, piling up pressure on the already vulnerable food inflation. Palm oil, which accounts for nearly half of India's refined oil consumption, went up Rs 10 per kg following a sharp rally in international markets. India imported about eight million tonne, or half of its domestic vegetable oil requirement, last year. A weakening rupee has been another...

-The Times of India Milk prices are set to soar yet again. Rising inflation and increase in excise duty on packaging material for milk pouches are likely to make milk dearer by Rs 2 per litre, said R S Sodhi, managing director of Gujarat Co-operative Milk Marketing Federation (GCMMF), which markets Amul milk across the country. While he did not say when the price hike will come into effect, sources said...

-IANS The percentage of people living in extreme poverty declined from 52% in 1981 to 22% in 2008 thanks to strong economic growth in the emerging markets of India, Brazil and China, according to a new report. This means that the Millennium Development Goal of cutting extreme poverty in half by 2015 has already been met, US think tank Hudson Institute's Centre for Global Prosperity's (CGP) annual Index of Global Philanthropy and...