Even as reports pour in of a softening of food price futures, the spectre of food price inflation haunts households across the country. But to imagine that the inflation genie can be put back into the bottle through legislative fiat is the height of parliamentary fantasy. The Estimates Committee of the Lok Sabha has recommended just that! It wants new legislation to check price rise of essential commodities by capping...

Recently there has been considerable media discussion about the issue of rise in prices of essential commodities and the problem of food inflation. In a country like India, where the cost of food forms major part of the monthly or daily expenditure incurred by an average family, this is a debate which acquires poignant significance. This is a government that came into power based on a concern for and commitment...

The bizarre politics behind the UPA's withdrawal of the controversial sugarcane price order. It was the quickest retreat that any government has made in recent times. It took just a day’s protest outside Parliament before the United Progressive Alliance (UPA) government decided to withdraw the controversial provisions of a notification it had issued last month on the payment of fair and remunerative prices to sugarcane farmers. You may describe it as an...

An ambitious human resource development ministry proposal aimed at ending persistent gaps between allocated and needed funds that plague the midday meal scheme has been rejected by a key finance panel. The Centre’s expenditure finance committee (EFC) has dumped the ministry proposal to tie costs of the meal scheme to fluctuating commodity prices through a special pricing index, The Telegraph has learnt. The EFC’s approval is mandatory for central proposals with...

The concepts of multiplier and accelerator borrowed from macroeconomic theory illuminate the enormous potential of NREGA and help set standards that it must be judged by.  Over the last few months, just as the economy entered its current recessionary phase, the mainstream media, which till then had been uniformly unswerving in their antipathy to NREGA (National Rural Employment Guarantee Act), suddenly began to sing its praises. In all the gloom...