REGULARITY and repetition—of returning rains, of seasonal temperatures, of the cycles of life and death—are the essence of agriculture. So perhaps it is not surprising when events recur. In 2007-08, food prices soared. Mozambique and 30 poor countries endured food-price riots. Russia led a procession of grain exporters to restrict sales. And the world had to face up to changes in the pattern of food demand, reversing decades of declining...

A 24-hour nationwide strike called by trade unions has caused major disruption in parts of India. The walkout was felt mostly in Tripura, Kerala and West Bengal states where the ruling Communists backed the action. Called to protest against price rises and alleged labour law violations, the action caused major disruption to air and road transport in those states. The coal, power, telecom, banking, insurance, defence, port, petroleum and construction sectors joined the...

Insurance regulator IRDA has imposed a penalty of Rs 5 lakh each on two life insurers, state-run Life Insurance Corporation (LIC) and HDFC Life Insurance, for failing to meet rural and social sector obligation in 2008-09, Parliament was informed. The Insurance Regulatory and Development Authority (IRDA) has imposed a fine on LIC and HDFC Standard Life Insurance for non-compliance under the rural sector target during 2008-09, Finance Minister Pranab Mukherjee...

With nearly 60% of the country’s population unbanked and the government pledging to bring banking to the lowest stratum of society, the Indian Institute of Management, Indore (IIMI), has decided to do its bit on financial inclusion. For its annual management summit Ahvan, the institute has decided to unveil a programme called Samanvay, where IIMI students will help underprivileged people in and around the campus open bank accounts and get...

The goal of food for all can be achieved only through greater and integrated attention to production, procurement, preservation and public distribution. The President, in her address to Parliament on June 4, 2009, announced: “My Government proposes to enact a new law — the National Food Security Act — that will provide a statutory basis for a framework which assures food security for all. Every family below the poverty line in...