After three days of hectic consultations with Cabinet colleagues and experts, Prime Minister Manmohan Singh on Thursday set up an inter-ministerial group under the Chief Economic Adviser to the Finance Ministry to review the inflation situation with particular reference to primary food articles. It will also assess international tariff trends and recommend action on the fiscal, monetary, production, marketing, distribution and infrastructure fronts to prevent “price spikes.” As an immediate measure to...

Right to Food Campaign demands a universal PDS “It is a dishonest proposal of the government” The Right of Food Campaign has charged the Central government with lack of commitment in providing food and nutrition security to citizens with its reported decision to revise the issue prices of wheat and rice for the Above Poverty Line (APL) category of beneficiaries in the Public Distribution System (PDS). “This is the first step to finish...

Indian Prime Minister Manmohan Singh has held a cabinet meeting to tackle spiralling food prices. Finance Minister Pranab Mukherjee, Home Minister P Chidambaram and Food and Agriculture Minister Sharad Pawar were among those at the talks in Delhi. The soaring price of vegetables, milk and other eatables in the past month have taken food inflation to 18.32% - the highest in more than a year. The agriculture minister has said the crisis is...

Managing high agriculture commodity prices is becoming a concern for policy makers in India as well as globally. While Food and Agricultural Organisation (FAO) has already warned of a ‘food price shock’, concerns are raised that this situation could worsen as various exporting countries could consider restrictions which will further create supply bottlenecks. As global food prices hit a record high, India just trails behind with food inflation touching a 23-week...

The rapid growth of global markets has not seen the parallel development of social and economic institutions to ensure balanced, inclusive and sustainable growth. Although we may not have yet reached “the end of history,” globalisation has brought us closer to “the end of geography” as we have known it. The compression of time and space triggered by the Third Industrial Revolution —roughly, since 1980 — has changed our interactions with...