UPA-II's plans to replace the existing fertiliser subsidy regime with direct cash transfers to farmers will be delayed as the fertiliser ministry is likely to scrap an intermediate phase where the subsidy was to be rerouted from companies to retailers this summer. This puts paid to the fertilizer industry's expectation that very soon it would be out of the subsidy mechanism which locks up precious working capital. "We are rethinking the original...

-The Times of India Milk prices are set to soar yet again. Rising inflation and increase in excise duty on packaging material for milk pouches are likely to make milk dearer by Rs 2 per litre, said R S Sodhi, managing director of Gujarat Co-operative Milk Marketing Federation (GCMMF), which markets Amul milk across the country. While he did not say when the price hike will come into effect, sources said...

Edible oil prices soared almost 10%-Rs 6 to 8 per kg-in the last one month, piling up pressure on the already vulnerable food inflation. Palm oil, which accounts for nearly half of India's refined oil consumption, went up Rs 10 per kg following a sharp rally in international markets. India imported about eight million tonne, or half of its domestic vegetable oil requirement, last year. A weakening rupee has been another...

-IANS The percentage of people living in extreme poverty declined from 52% in 1981 to 22% in 2008 thanks to strong economic growth in the emerging markets of India, Brazil and China, according to a new report. This means that the Millennium Development Goal of cutting extreme poverty in half by 2015 has already been met, US think tank Hudson Institute's Centre for Global Prosperity's (CGP) annual Index of Global Philanthropy and...

The medicine price regulator, the National Pharmaceutical Pricing Authority (NPPA), has found a price fixing mechanism suggested by its parent ministry, chemicals and fertilisers, has failed to meaningfully lower the prices of key cancer medicines. A group of ministers (GoM) headed by agriculture minister Sharad Pawar is expected to meet soon to finalise a pricing policy on drugs. The NPPA study findings may compel the ministry to seek other effective ways of...