The Central Vigilance Commission (CVC), probing alleged financial bungling in the Commonwealth Games-related projects, has referred certain cases to the Enforcement Directorate (ED) to check whether there was violation of foreign exchange laws. Official sources said that projects like construction of Commonwealth Games Village near Akshardham temple and flyovers, hiring and procurement of medical and fitness equipment and conduct of outdoor publicity campaign by the Organising Committee may come under the...

A parliamentary committee has asked the government to consider incentivising private players to set up grain storage facilities as it prepares to implement the right to food. The government will require around 620 lakh tonnes of foodgrain annually to implement the food security law. The official procurement stood at 539.75 lakh tonnes in the recent marketing year. “(The) government should provide soft loans at affordable rates and subsidies to private players to...

The Food Corporation of India (FCI) should feel relieved that the private sector has stepped in to create additional foodgrain storage capacity, bridging the extant gap. However, it is difficult to fathom why much of the new warehousing capacity is sought to be put in place in grain-surplus states (production centres) — notably Punjab and Haryana, besides some others like Andhra Pradesh, Tamil Nadu and Maharashtra — rather than in...

It is two weeks now that the state cotton federation has launched procurement but not a single farmer has turned up to sell cotton at its collection centres because of the huge gap between minimum support price and the open market rates. But private traders are now being accused of cartelising in order to pull down prices as it has become a buyers` market. Nearly half a dozen incidents of clashes...

Food Corporation of India (FCI) today asserted that loss of foodgrain stored at its godowns is minimal and said the government would add 16 million tonnes of capacity within the next two years. "It's not true to say that storage loss is as high as 30 per cent...Storage loss is less than 0.4 per cent for rice and none for wheat," FCI CMD Siraj Hussain said at a conference. "Bulk wheat-producing states...