The sharp rise in food prices inflation will remain a major cause of concern as inflationary pressures on the domestic front are likely to be exacerbated by higher levels of global commodity prices, the Economic Survey has said. It also indicated that the political turmoil in the Middle East and the “easy money” policy being followed by developed nations trying to jump-start their own economies after the global recession of 2008-09...

After feeding the country, the enterprising farmers of Punjab now want to try their hands in Ethiopia. The progressive farmers, mainly members of Poscon (Confederation of Potato Seed Farmers), are planning to take 2,000-5,000 hectares farmland on lease in Ethiopia for growing cash crops like oilseeds, pulses, sugarcane and maize. The delegation of the progressive farmers has twice visited Ethiopia on the invitation of Ethiopian government. Speaking to Business Standard, Poscon...

Food inflation dropped sharply to 13.07% for the week ended January 29 from 17.05% in the previous week. According to data released by the ministry of industry and commerce on Thursday food inflation declined to a seven-week low due to decline in the prices of pulses and potatoes. On an annual basis, prices of potatoes declined 8.87%, while pulses fell 8.63% and wheat by 3.58%, the government data said. Although the...

Agriculture, which had dragged down growth during UPA's first term, is now helping the GDP numbers shine. Good monsoon has helped drive the growth expectations comfortably over 5 per cent, adding some new shine to the economy. According to Advance Estimates, the government expects that the 8.6 per cent growth of the economy during the current fiscal will be powered by agriculture growing at 5.4 per cent, a big jump over...

The Rangarajan committee further dilutes the proposals for the food security bill   The Rangarajan committee set up by the Prime Minister to examine the recommendations of the NAC on the food security bill has submitted its report. It is not surprising to see that it has argued against even the minimalist framework of the NAC saying that expanding the PDS is impossible due to procurement and fiscal constraints. Although the full...