-PTI A ministerial panel headed by Finance Minister Pranab Mukherjee on Tuesday approved starting the process to auction spectrum which would be freed in the wake of Supreme Court cancelling 122 licenses. The Empowered Group of Ministers (EGoM) gave the approval to the process for selecting an auctioneer who will conduct the fresh round of bidding for spectrum as mandated by the apex court. "The EGoM has approved the initiation of the process...

-Reuters Latest World Bank food price index showed the cost of food rose 8% between December and March Global food prices are rising again, pushed higher by costlier oil, strong demand from Asia and bad weather in parts of Europe, South America and the United States, the World Bank said on Wed nesday. The latest World Bank food price index showed the cost of food rose 8% between December and March. In the...

Uttar Pradesh, which supposedly has a high proportion of the country's poor, has not begun the job of enumerating them even three-and-a-half months after the first deadline set by the Centre lapsed. The project started in June 2011, with the target of completing the job by the end of 2011. The Centre then extended the deadline to April. Bihar has covered just 0.1% of the population. While there is no word from...

Rice, wheat production seen at highest ever, but other commodities show a decline from previous year’s harvest The government estimated a record high foodgrain crop for the 2011-12 crop year that ends in June, driven mainly by higher output of rice and wheat, but experts said prices are likely to remain firm and keep inflation at around 7%. The likelihood that the government will increase the minimum prices it guarantees farmers for...

The Centre has cited three shortcomings in the implementation of the rural job scheme in Bengal and linked the next instalment of grant to the resolution of the problems. In a letter sent to chief minister Mamata Banerjee yesterday, Union rural development minister Jairam Ramesh has identified the critical areas as low completion rate of works, delay in e-transfer of wages and inadequate action on complaints of irregularities. “Let me make it...