Two months ago, a media baron from Ahmedabad bought 240 bighas of land near Mahakali temple in Sitapur village, adjacent to Hansalpur where India's largest car-maker Maruti Suzuki India Ltd, plans to set up its biggest plant in the country.  The media baron paid Rs 12 lakh a bigha. On Tuesday, four days after the car project was announced, they sold the land for Rs 33 lakh a bigha.  From Sanand to...

India’s new pharmaceutical policy seeks to bring at least 400 essential medicines—or 60% of the drugs sold in the country—under the government’s pricing control. The department of pharmaceuticals on Friday put out a draft policy, pending since 2005, after a committee prepared a list of essential medicines, laying down new rules governing drug pricing. Currently, the government controls the prices of only 34 essential medicines. The draft says the policy, to be finalized...

-The Telegraph   Tribals will now be involved in value-addition and marketing of minor forest produce (MFP) such as honey and tamarind so they can get better prices. For the first time, a group of private companies has come forward to set up units that will carry out the value-addition and train tribal youths in the process as well as marketing the products. The firms will set up such units under the public-private-partnerships (PPP),...

-The Hindu   The Union government on Tuesday announced an increase of Rs. 115 in the minimum support price (MSP) of wheat, which has been set at Rs. 1,285 a quintal for the 2012-13 rabi marketing season. The MSP for the previous year was Rs. 1,170 including a bonus of Rs. 50. Terming the increase a “Diwali bonanza to farmers,” Law Minister Salman Khursheed told journalists that the decision was taken at a...

-The Hindu   “Allowing oil firms to control market will hurt economy”   De-regulation by which the three public sector oil companies are empowered to set the price of petrol and other petroleum products has been challenged in a public interest litigation petition in the Supreme Court. The All India Youth Federation (AIYF), represented by its general secretary P. Sandoshkumar, said there was no rationale behind replacing the Administered Pricing Mechanism (APM) with the Import...