With its granaries brimming over, the government faces a crippling dilemma: The tab for releasing foodgrain to make way for new arrivals adds up to Rs 20,000-25,000 crore, an unviable addition to the subsidy bill. The government's bind was succinctly outlined by finance minister Pranab Mukherjee when he told a meeting called by Prime Minister Manmohan Singh on Wednesday that vacating food silos will mean a hefty cost at a time...
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A good monsoon is an occasion to invest in a major overhaul of farm policy
-The Economic Times India will have a normal monsoon this year, says the Met office. This is good news, even though the forecast does not rule out some slack during the second half of the season. What matters finally is the distribution of rainfall across space and time rather than the aggregate percentages. However, a good monsoon is only one side of the story to have a strong farm sector. Reforms are...
More »Give farmers the highest market value for land acquired, rules SC-J Venkatesan
They are also entitled to interest on solatium, additional market value Farmers whose land is acquired for a public purpose are entitled to the highest market value as compensation, the Supreme Court held on Friday. “When the land is being compulsorily taken away from a person, he is entitled to the highest value which similar land in the locality is shown to have fetched in a bona fide transaction entered into between...
More »Pak potatoes rescue Indian consumers-Madhvi Sally
AHMEDABAD: With potato prices ruling at Rs 20 a kg in retail in the domestic market, traders from Jammu and Kashmir have started importing potato from the two Line of Control (LOC) trade posts of Srinagar and Poonch. With zero import duty on import at the LOC trade points, Pakistani potato is cheaper than the Indian variety by 20% to 40%. India's potato production is expected to be 33.5-34 million tonne...
More »Rural purchasing power waning on inflation, rising input costs-Heena Khan
But non-farm income keeps economy afloat New Delhi, April 25: The rural growth story is slowly losing sheen because of inflation and rising input costs. In fact, rural price level is higher than urban price level. The March Consumer Price Index number for rural India stood at 116.3, while that for urban India stood at 114.6. Mr Ajay Sriram, Chairman and Senior Managing Director, DCM Sriram Consolidated Ltd, says the rural growth...
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