India’s food inflation slowed as finance minister Pranab Mukherjee said agriculture prices may cool further on prospects of sufficient rains this year. An index measuring wholesale prices of agriculture products including lentils, rice and vegetables compiled by the commerce ministry rose 16.61% in the week ended 17 April from a year earlier. It gained 17.65% the previous week, according to a statement in New Delhi on Thursday. Mukherjee on Wednesday vowed to...

Around two decades ago, Lawrence Summers, then World Bank chief economist, outraged many when he argued in an internal memo that the economic logic behind dumping toxic waste in low-wage countries was “impeccable”. His rationale: less developed countries are “under-polluted” and that “foregone earnings from increased morbidity and mortality” would be lesser in countries with lower wages. Cut to now and the thing to ask is: does India too believe...

The proposed Food Security Bill should adopt a three-pronged strategy that constitutes a Universal Public Distribution System for all, low-cost foodgrains to the needy, and convergence in the delivery of nutrition safety net programmes.  In his latest budget speech, Finance Minister Pranab Mukherjee announced: “We are now ready with the draft Food Security Bill which will be placed in the public domain very soon.” Although no official draft has been...

Misleading the public on safety of genetically modified crops or organisms without scientific evidence would not be made a punishable offence, the government has decided following concerns raised by some scientists and civil society groups. A relevant clause to this effect in the proposed Bill to set up the National Biotechnology Regulatory Authority has been dropped, government sources have told The Indian Express. The NBRA is being established to approve...

Sugar prices have been rising, and the government has been offering sweet nothings. But on Tuesday the entire Opposition - even UPA's allies - will put the government in the dock over price rise. At this juncture, a notification by the Directorate General of Foreign Trade (DGFT) is certainly bad news for the beleaguered government. Though sugar exports are banned, the DGFT issued a notice on February 15 allocating 10,000 Metric tonnes...