Work on a new base year will start the moment the government starts releasing key economic data such as the Wholesale Price Index (WPI) and the Index of Industrial Production (IIP) with 2004-05 as the reference point within a few months. The National Statistical Commission (NSC), under C. Rangarajan, has recommended that the base year be updated every five years. Officials in the ministry of statistics and programme implementation (Mospi) say...

Drought impacted agricultural production but not farm incomes.  The year 2009-10 was supposedly a bad year for Indian agriculture, given the worst ever monsoon since 1972. This is partly reflected in the 0.2 per cent growth registered by the farm sector (inclusive of forestry and fishing) in real terms, as per the Central Statistical Organisation's latest revised estimates of gross domestic product (GDP) for last fiscal. The virtual stagnation in agricultural output...

As the policies on better water management work themselves out and the larger sums of monies the UPA government is spending on them have an effect, technology is the major source of growth in Indian agriculture. Improved seeds matter. While the earlier seed suppliers in agricultural universities and seed corporations reorganise themselves with the support of the Rashtriya Krishi Vikas Yojana, private and public private partnerships (PPP) are flourishing. Bt...

The fertiliser sector in India has been through difficult times in recent years. Stagnant production, no fresh investment and poor financial health of the units were accompanied by high level of import, imbalanced use of nutrients and deteriorating soil health. Mounting subsidy bill posed a serious fiscal management problem to the government. Industry has been pursuing with the government for appropriate reforms to ensure health and growth for both the...

Uttarakhand is likely to pass the much-awaited Agriculture Produce Marketing Committee (APMC) Act, setting the stage for private companies like RIL and ITC to get into contract farming in the state and set up private mandis. Uttarakhand agriculture minister, Trivendra Singh Rawat on Friday said chief minister Ramesh Pokhriyal Nishank has agreed to give the final nod to the proposal at the next Cabinet meeting. The move follows the green...