The agricultural growth package mooted in the Union Budget for 2010-11 seems well conceived but not adequately supported by funding for its key elements. This, surprisingly, is despite the 21.6 per cent increase in the overall Central plan outlay for agriculture and allied sectors, the highest hike in recent years. The underlying objective of the four-pronged strategy outlined in the Budget speech for spurring agricultural growth is, obviously, to address...
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The Central Statistical Organisation estimate of overall GDP being likely to grow at 7.2 per cent this year has brought back the confidence of the industry and policymakers that the economy has truly turned the corner. But the growth of the farm sector is almost flat (-0.2 per cent), though this too is a pleasant surprise given that it was exposed to the worst drought since 1972. The real worry...
More »Food inflation inches up to 17.97% for the week February 6
India's food inflation rose for the fourth straight week in early February, heightening worries that it was driving up headline inflation past official forecasts and increasing the chance of the central bank pushing up rates. The food price index rose 17.97 percent in the 12 months to February 6, higher than an annual rise of 17.94 percent in the previous week, data released on Thursday showed. The fuel price index rose...
More »Food inflation rises to 17.56%
Food inflation inched up to 17.56% for the week ended January 23 on account of rising prices of potato and pulses. The wholesale price-based food inflation was 17.40% in the previous week. Potato prices jumped by 44.91% over the last year, while pulses became dearer by 44.43%. The inflation for primary articles, which include food and non-food items, marginally eased to 14.56% in the reporting week from 14.66% in the...
More »Annual food inflation up at 17.4%
India's annual food inflation based on wholesale prices rose to 17.4% for the week ended January 16 from 16.81% the week before, according to official statistics released on Thursday. Essential items continued to rule firm, with potatoes dearer by 57.56% over the past 52 weeks, pulses up 46.87%, and vegetables costlier by 10.5%. But prices of onions declined 1.69%. The limited data on the wholesale index released by the commerce...
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