-PTI About 20 per cent increase in wage inflation is building up price pressure on Food articles and is posing a big challenge for RBI to cut policy rates, an industry body said today. "Near 20 per cent annual increase in the wage inflation in rural areas is building up price pressures on Food articles like cereals, rice and wheat, and is posing a big challenge for the Reserve Bank which is...
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A rough guide to India’s Food Security Bill
Introduced in the Lok Sabha in December 2011, the UPA government’s Food Security Bill is finally going to be discussed in the current (Budget) Session of Parliament. The proposed legislation is now slated to see many additional amendments from the government, following criticism from the States, NGOs and diverse stake-holders working on access to food and child health. Attempt here is to summarise in a Q & A format the...
More »IRCTC fined Rs 10 lakh for selling soft drinks above maximum retail price
-PTI Indian Railway Catering and Tourism Corporation (IRCTC) has been slapped with a fine of Rs 10 lakh by a consumer forum here for selling soft drinks above the maximum retail price (MRP) to two customers. The New Delhi District Consumer Disputes Redressal Forum imposed "punitive compensation" of Rs 5 lakh each in two separate cases against IRCTC, a subsidiary of Indian Railways, and said being a government corporation, "it is not...
More »Protein portents- Subir Gokarn
-The Business Standard Relative price changes across food items may impinge on long-term food security Rising food prices have been a significant driver of inflation in India over the past few years. In early 2008, there was a global surge in food prices, which certainly had an impact on the domestic situation. But, this subsided in a few months. Since then, the pressures seem to have been predominantly internal. If these trends...
More »Cash transfers to tame food price spiral-Ashok Gulati and Shweta Saini
-The Economic Times Food inflation in India, as measured by Food articles price index, has averaged 11.3% for the period FY 2008-09 to December 2012, with a maximum of 15.6% in 2010-11 and minimum of 7.3% in 2011-12. In December 2012, wheat prices stood 23% higher than in December 2011, and rice prices 17% higher in the same period. Although this spurt in wheat and rice prices in the face of...
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