Marie Antoinette may or may not have deadpanned “let them eat cake” but the Bengal government could have tried saying “let them eat potato” in these times of price rise. But out went that opportunity — along with 7,000 bags or 4,200 tonnes of potatoes at Panagarh in Burdwan. In terms of cash, potato stocks valued at Rs 50 lakh rotted on the open ground today because of a dispute between a...
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Centre seeks to get on top of inflation by Gargi Parsai
Availability of commodities to be augmented The Centre on Wednesday stepped up its efforts to rein in food inflation, which touched 18.32 per cent for the week ended December 25 last with onion price soaring to Rs. 60 a kg in retail. Prime Minister Manmohan Singh met Finance Minister Pranab Mukherjee, who later held a closed-door meeting with Agriculture Minister Sharad Pawar and Planning Commission Deputy Chairman Montek Singh Ahluwalia. Mr. Pawar...
More »Boom versus price puzzle
As policymakers gear up for their biggest battle against inflation, worrying signs about India’s boom-boom growth story emerged. The first warning signal went up today with the government’s statistical office announcing that the index of industrial production (IIP) — the broadest measure of plant and factory performance —had grown by a piffling 2.7 per cent in November against a market consensus of 6.6 per cent. The index stood at 317.9 —its lowest...
More »Sibal ignored other scenarios in CAG report by Sandeep Joshi
Also failed to notice how his predecessor misled the Prime Minister Communications and IT Minister Kapil Sibal might have termed the Comptroller and Auditor-General of India (CAG)'s calculation of loss to the exchequer from underpricing of 2G spectrum “utterly erroneous,” but he has completely ignored other scenarios presented by the auditor where new operators made crores by selling their stakes to global telecom giants or were themselves ready to pay more...
More »NAC won't give up on food security proposals by Smita Gupta
One more effort to make government reconsider objections The Sonia Gandhi-headed National Advisory Council (NAC) has decided to stick to its recommendations made on the draft National Food Security Bill at its meeting on October 23 last, though these have been rejected by a government committee led by C. Rangarajan, who heads the Prime Minister's Economic Advisory Council. The committee was constituted by Prime Minister Manmohan Singh to examine the feasibility of...
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