After increasing slowly and steadily from historic lows, world rice prices tripled in just six months during 2007-08. The price surge caused much anxiety because so many of the world’s poor are rice consumers. And it caught many by surprise as market fundamentals were sound. Indeed, it was government policies, rather than changes in the production and consumption of rice, that drove the surge. This suggests that improved government policies...

Agriculture, which had dragged down growth during UPA's first term, is now helping the GDP numbers shine. Good monsoon has helped drive the growth expectations comfortably over 5 per cent, adding some new shine to the economy. According to Advance Estimates, the government expects that the 8.6 per cent growth of the economy during the current fiscal will be powered by agriculture growing at 5.4 per cent, a big jump over...

The Rangarajan committee further dilutes the proposals for the food security bill   The Rangarajan committee set up by the Prime Minister to examine the recommendations of the NAC on the food security bill has submitted its report. It is not surprising to see that it has argued against even the minimalist framework of the NAC saying that expanding the PDS is impossible due to procurement and fiscal constraints. Although the full...

Farmers' protesting ban on cotton and onion exports on Monday created a few moments of panic as they set ablaze a trolley-full of cotton some 200 metres from the Nagpur airport building. The situation was soon brought under control and farmers dispersed after the symbolic protest. Over 2000 farmers led by Bacchu Kadu, the maverick independent MLA from Achalpur in Amravati district, marched through the busy Wardha road to airport...

In a move that brings relief to the rural workforce, but risks creating an inflation spiral, the government on Thursday revised the minimum wages paid for its flagship job guarantee scheme by linking them to the Consumer Price Index for agricultural labour (CPI-AL) for each individual state. Such a price spiral, in case it actually emerges, could roil the electoral prospects of the Congress in the key contests to the state...