A good wheat crop this season is likely to ease the near double digit inflation in the next 2-3 months, Planning Commission Deputy Chairman Montek Singh Ahluwalia said today. "This season very good harvest (wheat) is coming in. There is ample stock of foodgrain in the country. So the inflation psychology would be broken," Ahluwalia told reporters here. The wholesale price index (WPI) is currently nearing the double-digit mark, with the March-end...
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Monsoon to dispel clouds over sugar, grain
A good monsoon forecast strengthens prospects for India to cut sugar imports, free up grain exports and buy more gold as rains boost supplies in the world’s leading consumer of most farm commodities. Annual monsoon rains from June to September are key to firing up growth and farm output and limiting inflation in India, which ranks among the world’s top producers and consumers of sugar, wheat, rice and edible oils and...
More »EGoM likely to clear draft food security Bill tomorrow
An empowered ministers' panel meeting tomorrow is likely to take some decisions to tackle price rise and finalise the draft Food Security Bill, which seeks to give the poor the right to get rice and wheat at Rs 3 per kg. The empowered group of ministers, headed by Finance Minister Pranab Mukherjee, is scheduled to review the minimum export price (MEP) for Basmati. In the face of high food inflation, the...
More »A Law Unto Itself by Lola Nayar, Chandrani Banerjee
* Main aim is to create asingle-window clearing-house for GM foods/crops * Planned regulatory authority to have overarching powers over state governments, existing laws * No room for farmers or civil society in approval process * Penal action for raising objection without scientific evidence * No independent risk assessment of data submitted to the authority * No provision for revoking approvals, inadequate liability clause * No informed choice for consumers...
More »Ensuring Food Security by Sant Bahadur
With a large number of people living on subsistence level of income, the government has to safeguard their interest by ensuring availability of food grains at an affordable price. Success of any policy or programme to this effect depends on growth in agriculture production and procurement of wheat and rice, the main staple foodgrains. Though the performance of agriculture has not been uniform throughout and its growth rate has varied...
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