Ban futures trading in essential commodities, says Modi report As chairman of the working group on consumer affairs, Gujarat Chief Minister Narendra Modi has recommended that futures trading in essential commodities be banned and that organised retail in agri-produce be encouraged to make a dent in food inflation. The working group, comprising the Chief Ministers of Gujarat, Tamil Nadu, Maharashtra and Andhra Pradesh, was set up in April last. Mr. Modi...
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Food subsidy to be Rs 1,10,600 cr if NAC desire is met by Sruthijith KK
The total food subsidy bill will balloon to 1,10,600 crore if entitlements recommended by the Sonia Gandhi-headed National Advisory Council are incorporated into the Food Security Bill , the Ministry of Food And Public Distribution has estimated. The subsidy bill in the initial phase will be 93,000 crore. The ministry's estimates are significantly higher than the ones made by both NAC and the Rangarajan panel that studied the NAC recommendations. The ministry,...
More »Rising Food Prices May Not Signal New Crisis by Aprille Muscara
As food prices rose for the seventh month in a row in January, contributing to recent popular unrest in the Middle East and a spike in commodities purchases by developing countries last week, some analysts are quick to make comparisons to the dry years of 2007-2008. But others warn against panic and oversimplified predictions of an impending food crisis, which contribute to price volatility. "It is important to underline – and we've...
More »Pitch forking the farmer into the marketplace by Shailendra Sinha
The face of agriculture in India is changing fast. It needs to become not only sustainable but also profitable for farmers especially the young to stay on the land and cultivate it. The farmers must understand how markets respond to agricultural produce. He should not stop by spending all his life's energy and resources on creating the agricultural produce, but should know how to get good returns for his efforts. This is...
More »Singh recipe to fight price rise
Prime Minister Manmohan Singh today asked states to waive local taxes, including octroi, as well as reform the outdated Agriculture Produce Marketing Committee Act, or Mandi Act, to help control a runaway food inflation. The Prime Minister also called for dovetailing organised retail chains with farm supply chains. “Supply chains need to be strengthened and these need to be dovetailed with organised retail chains for quicker and more efficient distribution of farm...
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