The problem is all pervasive as the prices of almost all food items have been rising In a scenario that is all familiar in India and for that matter in many other countries too, rising food prices have become an extremely sensitive issue with major political and social ramifications that go well beyond the economic ones. Not that the economic consequences are unimportant. From the macroeconomic management point of view, rising food...
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Poor families struggle with higher food prices in India by Laurinda Luffman
After announcing food prices had reached record levels last week, the United Nation’s (UN) Food and Agriculture Organisation (FAO) is now trying to play down concerns about shortages. The FAO’s representative for Asia and the Pacific region, Hiroyuki Konuma, admitted that food supply and demand were tight but said there were sufficient grain stocks to feed populations. Though certain foods such as sugar, meat, corn and soybeans are selling at a...
More »Should the rural job guarantee scheme be linked to minimum wages?
The question raises fundamental issues about the MGNREGA’s centralised template and poor delivery mechanism, but it is important to provide a legal basis to its wage structure to protect it against inflation. We need to remember that the way the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) was originally conceived, wages were never meant to be equal to the minimum wages; they should have been lower. This is because the...
More »Food price inflation worries India
India's food prices have increased significantly over the weekend, leaving customers and shopkeepers extremely worried. Reuters reports the price of onions in particular has peaked. Onions are currently selling between Rs 70-80 per kilogram ($AU1.56- $AU1.78), after being worth Rs 45 ($AU1) only a few days ago. The Associated Chambers of Commerce and Industry of India (ASSOCHAM) reports food inflation climbed nearly to a year's high of 18.32 per cent on December...
More »Why food is costlier by TN Ninan
Twenty years ago, a Maruti 800, with an air-conditioner fitted, cost a little less than Rs 2 lakh. Today it costs about Rs 2.5 lakh. Twenty years ago, a branded 1.5 tonne window air-conditioner cost about Rs 30,000; today, you can get a split AC unit for that price. Then, Videocon was offering large refrigerators for more than Rs 30,000; you can get better units today for much less. TV...
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