The declining trend in food price inflation globally may not hold true for inflationary trends faced domestically due to a weakening Indian Rupee vis-a-vis the US Dollar. The recently released FAO Food Price Index (nominal) has shown a declining trend in July for the third consecutive month owing to lower international prices for grains, soy & palm oil, meat, dairy and sugar. (See links below) Based on FAO Food Price...
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Wholesale price inflation likely edged up to 5 per cent in July
-Reuters BANGALORE: Inflation likely picked up slightly in July as its falling currency pushed up the price of imports, making raw materials more costly, and on rising food prices, a Reuters poll showed. Wholesale prices, India's key inflation measure, rose an annual 5 percent last month, the poll of 30 economists showed, hitting the ceiling of the Reserve Bank of India's commonly perceived comfort level. That was up slightly up from June's 4.89...
More »Addressing deficiencies in public systems- Gulzar Natarajan
-Live Mint The mid-day scheme is underpinned by a rent-seeking chain that keeps all the major stakeholders satisfied The mid-day meal (MDM) tragedy in Chhapra once again focuses attention on the low-level equilibrium that our public systems are trapped in. Consider these facts. Apart from rice, which has to be collected from the local ration shop, the MDM programme allocates each primary and upper-primary child Rs3.11 and Rs4.65, respectively to purchase pulses,...
More »Food subsidy poses fiscal threat, may not help poor: World Bank
-The Times of India NEW DELHI: Prices of globally traded food declined for the third consecutive quarter since their historical peak in August, 2012, a World Bank report has said but cautioned that uncertain weather conditions and domestic policy decisions such as extension food subsidy programmes in India and other countries need a close watch. Prices of all the three main food categories declined between February and June, 2013. Prices of grains...
More »Direct benefit transfer for LPG a big success, says Moily-Sujay Mehdudia
-The Hindu The scheme has crossed 2.28 million transactions, benefiting 1.25 million LPG households, says Petroleum and Natural Gas Minister Veerappa Moily The ambitious direct benefit transfer (DBT) scheme for domestic LPG cylinder, launched in 18 districts of the country on June 1, has crossed 2.28 million transactions. Indications are that the scheme will be rolled out throughout the country by the year-end. Terming it a big success, Petroleum and Natural Gas Minister...
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