A parliamentary committee has asked the government to consider incentivising private players to set up grain storage facilities as it prepares to implement the right to food. The government will require around 620 lakh tonnes of foodgrain annually to implement the food security law. The official procurement stood at 539.75 lakh tonnes in the recent marketing year. “(The) government should provide soft loans at affordable rates and subsidies to private players to...

Inflation declined marginally to a 10-month low of 8.58% in October, prompting policymakers to proclaim victory in their effort to cool prices, but economists remained sceptical saying the fight is far from over. The decline was mainly due a fall in food inflation to 14.13% from 15.71% in September and the base effect, or higher inflation of last year, data released on Monday showed. Finance Minister Pranab Mukherjee said the full impact...

The new consumer price indices set to debut in January will be compilations of indices for states that reflect the price trends prevailing in the country accurately, helping policy formulation and targeted intervention. Each state will have two consumer price indices, one for rural and another for urban areas. These CPI rural and urban will be added up to arrive at urban and rural retail indices at the national level. These...

As the common man continues to reel under the spiraling rise in prices of essential commodities especially key food items and vegetables the forever-rising food inflation is posing a serious challenge to policy makers. Though top government officials, including the Finance Minister and the Chairman of the Planning Commission have repeatedly assured that the food prices will soon stop rising, in reality it has gone the other way.   The rising spree...

Output of major crops, including sugar, will be better or equal to 2008-09’s production figures, but food prices are unlikely to return to that year’s levels. Food inflation may have permanently changed to stay on the higher side, economists have said. For a UPA government battling high prices, this could be a gloomy piece of news. A surplus monsoon has boosted acreages of all crops, according to food ministry figures. Output of...