-The Times of India Union steel minister Beni Prasad Verma's claim, that he was happy with inflation as higher food prices have helped farmers, borders on the ludicrous. A few weeks back P Chidambaram also attracted flak when he said that consumers have to pay more for sugar, rice and wheat as procurement prices are raised to benefit farmers. Linkages between high food prices and farmers' welfare is dubious because there...
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Resurgent agricultural sector to have larger share in economy-Vinay Pandey
-The Economic Times A change in the national accounts, slated to take place sometime in the next two years, will show that a resurgent farm sector is now the second biggest contributor to the economy, displacing manufacturing and financial services. The unexpected reversal is not just a statistical artefact. Instead it is an outcome of a change in the terms of trade, the price of agricultural produce compared to industrial output since...
More »Deficient monsoon to add to food, non-food inflation: CMIE
-PTI The monsoon rains, which have been deficient by about 21 per cent this season, are likely to spur prices of food and non-food articles, economic think tank CMIE has said. "We expect the South-West monsoon to remain deficient and the major crop production to decline by 2.3 per cent. This decline in output of major crops is expected to add to the already high inflation seen in food articles," the Centre...
More »Poor response from states on FDI in multi-brand retail
-The Times of India With the UPA government's efforts to build a consensus on allowing foreign retailers in the multi-brand retail sector going nowhere, Prime Minister Manmohan Singh on Wednesday urged the UPA allies to help evolve a consensus on the reforms measure. Participating in the first meeting of the newly set-up UPA co-ordination committee, PM said that it was necessary to build support for the move to let in foreign retailers. The...
More »High Vegetables Prices May Push Retail Inflation
-PTI Poor monsoon continues to put pressure on prices of staple vegetables, including tomato and potato, and could further push up retail inflation which is hovering above the double-digit mark. Rates of key veggies are yet to show signs of coming down compared to mid-July due to supply constraint as a result of deficient rainfall across the country. According to IMD, the country has witnessed 19 per cent rain deficiency during the season...
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