One man’s fiscal problem is another man’s lifeline. Trigger happy bureaucrats and economists may love shooting down subsidies because it bloats the fiscal deficit and burdens the government but the simple fact is that in a one billion strong nation, in which nearly one in every three live below the poverty line, one needs an effective and efficient method through which privileged tax payers can support the poor. Last week, finance...
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‘Food inflation can push 3 cr Indians into extreme poverty’
-First Post A ten percent spike in food prices could push 30 millions more people into extreme poverty in India, a report by the Asian Development Bank (ADB) has said. Ironically, data released by the Planning Commission on Monday showed that poverty had declined significantly between 2004-2005 and 2009-2010.In absolute terms, there were 35.5 crore poor people in 2009-10 against 40.7 crore five years earlier. As per the data, poverty across the...
More »Inflation rises to 6.95%in February
-PTI Inflation rose to 6.95 per cent in February because of sharp increase in food prices, especially vegetables and protein-based items. Inflation, as measured by the Wholesale Price Index (WPI), was 6.55 per cent in January. In February, 2011, it was 9.54 per cent. According to the official data released on Wednesday, food inflation was 6.07 per cent in February against (-) 0.52 per cent in January. Pulses turned expensive by 7.91 per cent and...
More »'Increase in production to help in controlling prices'
-The Indian Express Increasing farm production and removing market imperfections would help in controlling prices of commodities, a report has said. The report on 'State of Indian Agriculture 2011-12', tabled in the Lok Sabha, said that the principal factors behind the higher levels of inflation in the recent period are constraints in production and distribution especially in high value items such as pulses, fruits and vegetables, egg and meat. Increase in prices can...
More »A scam in pulses import? CAG estimates Rs 1,200 crore loss on import of subsidised pulses by Tejinder Narang
In December 2011, CAG tabled a well-analysed audit report in Parliament claiming a loss of 1,200 crore, or $250 million, on the import of subsidised pulses through 2006-11 under the supervision of department of consumer affairs (DCA) of the food ministry. The government's intention to introduce such a scheme cannot be faulted: during 2005-08, seven million tonnes of wheat was imported at high prices, chana (chickpeas) values spiked from 21...
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