The present situation is different from that of 2007-2008, although recent climatic events may significantly reduce agricultural production next season. Must history always repeat itself? We are indeed on the verge of what could turn out to be another major food crisis. The FAO Food Price Index at the end of 2010 returned to its highest level. Drought in Russia and the export restrictions adopted by the government, together with...

Despite a sharp rebound in economic growth for many countries, global unemployment in 2011 is likely to continue at the record highs of the past three years, highlighting the need for long-term policies that prioritize quality job creation, according to the United Nations labour agency. Moreover, a narrow focus in developed economies on reducing fiscal deficits without addressing the challenge of job creation will further weaken employment prospects in 2011, the...

At the Cancun climate change conference in December 2010, Jairam Ramesh, Union minister for environment and forests, raised the white flag of surrender when, departing from the prepared text, he declared, “all countries, we believe, must take on binding commitments under appropriate legal forms”. The minister thus signalled that India will give in to pressures from developed countries to convert its voluntary, nationally-determined mitigation actions into internationally-binding commitments in an...

In a packed special court that hears consumer complaints, Hansraj Sharma nervously shuffled through a pile of papers that told the story of his decade-long battle against a car dealer and a bank. District and state-level consumer courts twice sided with Sharma, awarding him $800 for a shady loan scheme. But the defendants repeatedly appealed. Now, after 58 court appearances, his case still drags on. "They keep asking for adjournment on some...

In more ways than one the calendar year 2010 would go down the memory lane as a watershed year for the food and agriculture front in the country which recorded unprecedented growth rate of 4.4 per cent in July-September quarter but by December unprecedented price hike of essential food items especially left consumers in tears.   As the year comes to an end, an embattled government and the Union agriculture ministry stood...