Every family below poverty line may get over Rs 400 per month from the government from April next year in lieu of fuel subsidy for kerosene and liquefied petroleum gas cylinders as part of India's first direct cash transfer scheme.   The move, which is expected to be considered by Empowered Group of Ministers (EGoM) on June 9, is aimed at checking use of kerosene for fuel adulteration and reduce financial...

-The Business Standard   Concerned over rising inflation, the Inter-Ministerial Group (IMG) today suggested opening up multi-brand retail to foreign investors and changes in agriculture marketing laws to check the rate of price rise. “We are taking a clear position on Foreign Direct Investment (FDI) in multi-brand retail. Of course, it is a recommendation, not policy,” said chief economic advisor and IMG chairman Kaushik Basu. The IMG, he added, favours formulation of a...

-The Economic Times   A repeat of the 2008 rice crisis that led to riots in the developing world cannot be ruled out as the cost of other agricultural goods surge, a research group has warned. The International Rice Research Institute said the global rice market was delicately balanced as the grain had managed to avoid huge price rises thanks to stable weather in rice growing regions. The cost of wheat surged 121...

India has large wheat stocks already yet policy dictates they increase. In states like Punjab, Haryana, UP and Gujarat prices have fallen and are below the minimum support prices. This is a policy-induced outcome. A safe game in grains is fine, given the global politics of grain trade and the great ability of Indian politics to subsidise the wrong man in the vote bank — but how safe is safe? The...

-PTI   The government is likely to give a legal right to food to both priority and general categories of the population under the proposed National Food Security Act, as suggested by the Sonia Gandhi-led National Advisory Council (NAC). There were differences between the NAC and the Rangarajan Committee on giving a legal right to food to general category, or above poverty line (APL) families. While the NAC had suggested giving a legal...