The current food inflation is a result of food output growth not keeping pace with population growth Few recall that, just last month, there was a food security summit in Rome. In sharp contrast to the almost overwhelming coverage of the Copenhagen climate summit, it attracted far lesser attention from the heads of governments, as also from the media. This is somewhat strange as a food (and water) crisis can hit...
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Battling price rise
Curbing inflationary expectations is the priority Food price inflation has been in double digits for almost a year. Officially this week it is clocking up 20 per cent, the highest in 11 years. Stories of inflation in pulses and vegetables have appeared repeatedly in newspapers all over the country. The minimum support price for wheat has more than doubled in the past three years. The sugarcane farmers invaded the roads of...
More »Failed Food Summit and rising hunger
The three-day World Summit on Food Security (WSFS) that opened in Rome, Italy on 16 November, 2009 has ended with serious differences among participants. Among those expressing dissatisfaction with the final declaration was no less a person than Jacques Diouf, the head of UN’s Food and Agriculture Organisation (FAO). Diouf criticised the declaration for not including exact targets to reduce hunger. There is no mention of a deadline for the...
More »Welcome new price index
The government has decided to release data for manufactured goods in the wholesale price index (WPI) with a monthly frequency, even as data on primary goods and fuels would continue to be released every week. Further, the revamped WPI would cover about 900 items instead of 435 at present, and the base year is being brought forward from 1993-94 to 2004-05. These changes would make the price index more reliable...
More »Key Facts
Output and Growth According to the [inside]Economic Survey 2017-18, Volume-2[/inside] (please click here to access): • The growth rates of agriculture & allied sectors have been fluctuating at 1.5 per cent in 2012-13, 5.6 per cent in 2013-14, (-) 0.2 per cent in 2014-15, 0.7 per cent in 2015-16 and 4.9 per cent in 2016-17. • The Gross Capital Formation (GCF) in Agriculture and Allied Sectors relative to Gross Value Added (GVA) in...
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