Wheat prices have staged the most drastic rise in more than 50 years, as a drought in Russia fuels growing worries that it could lead to a global shortage of the grain. Harsh heat and a lack of rain in Russia have killed half of the crop in some hard-hit areas. The slump in production in one of the world's most fertile breadbaskets has pushed prices up 62% since early June,...

With rich natural resources, biodiversity, dependable rainfall (annual average close to 2000 mm) and lower use of pesticides, north eastern states of the country could become a hub for organic products cultivation, the demand for which is up in global markets, an independent research paper has said. The paper has also urged the central government and the North Eastern Development Council to create an umbrella policy so that the potential of...

The NAC's recommendations on food security measures take heed of the fact that PDS reform is dependent on the availability of enough foodgrains. Three major elements of the United Progressive Alliance government's commitment to provide food security to the people are reforming the public distribution system (PDS), raising foodgrain productivity and production, and creating a decentralised, modern warehousing system. Ideally, the reforms in the PDS should have come first for the availability...

Does the government really have any clue about how to go about controlling prices? A quick survey of statements made by everybody from the prime minister downwards shows a picture of groping in the dark, while handing out empty assurances from time to time. What is worse, it's all smoke and mirrors for the public. Coming as it does from a government that is loaded with top-notch economists, it is...

Criticising the government’s Mining Bill, FICCI has said that the proposed legislation would adversely impact investments in the sector. It also termed the government’s scheme to provide shareholdings to tribals in mining projects as flawed. In a recent letter to Finance Minister Pranab Mukherjee, FICCI Secretary General Amit Mitra said that the proposed act will “adversely affect the industry”. “...the latest draft of the Mines and Minerals Development and Regulation Act 2010 proposes...