RANWAN, India — In this north Indian village, workers recently dismantled stacks of burned and mildewed rice while flies swarmed nearby over spoiled wheat. Local residents said the rice crop had been sitting along the side of a highway for several years and was now being sent to a distillery to be turned into liquor. Just 180 miles to the south, in a slum on the outskirts of New Delhi, Leela...

-Reuters Inflation may have accelerated at its fastest pace this year in May, driven by higher food and fuel prices, impeding chances of a rate cut by the central bank at its review next week, a Reuters poll showed. The wholesale price index, India's main inflation gauge, is expected to rise 7.60 percent in May versus a year ago, compared with April's 7.23 percent, the poll of 31 analysts showed. Forecasts ranged from...

-The Hindu From identification of fewer than targeted families to not lifting adequate ration supplies from godowns to non-submission of utilisation certificates, the report of the Comptroller and Auditor General of India has found several anomalies in the Public Distribution System and functioning of the Department of Food Supplies and consumer Affairs of the Delhi Government. In its report for the year ended March 31, 2011, the CAG has stated that a...

-The Business Standard    Draft health insurance guidelines must not remain on paper The insurance regulator’s draft guidelines on health insurance were necessary, given the segment has been plagued with high loss ratios, low penetration and persistent customer complaints. The draft, which proposes changes in every facet – product structure, renewability and claims settlement – is a thoroughly pro-customer document and seeks to plug the various loopholes that have been used to make...

Desired outcomes can be reached through a series of ‘imperfect’ small initiatives What is to be done? How can we untie the Gordian knot that has so entangled the political economy of petroleum product prices? This is the question that now exercises our most experienced politicians and our ablest economists. Most well informed people know that a country that imports 80 per cent of its oil requirements cannot de-link itself from the...