The Economic Survey on Friday favoured a phased opening of foreign direct investments in multi-brand retail saying it could help address concerns of consumers and farmers, besides bringing technical know-how. Even as the debate over FDI continues, the survey said during 2011-12, projects worth Rs 24,143 crore are expected to be completed adding a capacity of 168.6 lakh square feet. "Permitting FDI in retail in a phased manner beginning with metros and...

The sharp rise in food prices inflation will remain a major cause of concern as inflationary pressures on the domestic front are likely to be exacerbated by higher levels of global commodity prices, the Economic Survey has said. It also indicated that the political turmoil in the Middle East and the “easy money” policy being followed by developed nations trying to jump-start their own economies after the global recession of 2008-09...

Ashok Gulati, Director in Asia for the International Food Policy Research Institute (IFPRI), was appointed Chairman of the Commission for Agriculture Costs and Prices for the Ministry of Agriculture , Government of India. Based in New Delhi, he will be involved in developing appropriate price policy and marketing structures for major agricultural commodities in the country. Gulati’s appointment begins on March 1. Bart Minten will be acting director of the New...

The wife of a top PSU boss has been caught collecting bribe in gold bricks, the CBI said today, the charge suggesting that the corrupt remain as audacious as ever in spite of the shakedown in high places. Abhay Kumar Srivastava, the chairman and managing director of Navratna PSU Nalco, and his wife Chandni have been arrested. The CBI said Chandni took three 24-carat gold bricks weighing a kg each in...

India’s Agriculture Minister Sharad Pawar has refused to ban Endosulfan, a chemical used widely in India as an insecticide. He blamed farmers for the disastrous effects of this pesticide on people. For instance, Kasargod district of Kerala had reported deaths and permanent disabilities due to the use of this chemical. Pawar said the culprits were the farmers who were spraying the pesticide on the cashew crop against the advice of the Pesticide...