Is price rise going to be a permanent fixture because of India's high growth rate? This appears to be the argument put forward by the government's top economic advisers in the recently issued Economic Survey. It argues that historical experience shows that consumer prices increase faster in countries going through a fast growth phase compared to those with slower growth rates. But analysing inflation and growth data collected by the International...

Banning of future trading of Essential Commodities is recommended by Working Group on Consumer Affairs. Gujarat chief minister Narendra Modi, on Wednesday, submitted the report prepared by the group to Prime Minister Dr Manmohan Singh which also included other suggestions to tackle inflation. Unlike the usual practice of voluminous reports, the committee submitted to the PM a precise document with 20 recommendations and 64 detailed actionable points. Besides ban on future trading,...

Ban futures trading in Essential Commodities, says Modi report As chairman of the working group on consumer affairs, Gujarat Chief Minister Narendra Modi has recommended that futures trading in Essential Commodities be banned and that organised retail in agri-produce be encouraged to make a dent in food inflation. The working group, comprising the Chief Ministers of Gujarat, Tamil Nadu, Maharashtra and Andhra Pradesh, was set up in April last. Mr. Modi...

The workers covered under the purview of the scheme now will be drawing wages at Rs. 119 a day A section of society feels that the works assigned will be of no use The increase in the wages under the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) that came into effect in the district a few days ago has evoked varied response n the district. The workers covered under the purview of...

Cash transfers, the latest global development fashion, involve several risks in India, not least the risk of forgetting the need for continuing structural change. WHEN I was growing up, several decades ago, middle-class society in India was always a little delayed in catching on to Western fashions whether in music or dress or in other aspects. The past decades of globalisation seemed to have changed all that. Modern communications technology...