If inflation has broken the back of the aam aadmi, the biggest contributor to the pain in the UPA's term is food prices. Government data on wholesale price index (WPI) shows that there has been a 63% increase in the price of all commodities between April 2004, a month before UPA took charge, and April 2012, the latest period for which data is available. But when it comes to food products,...
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Vegetable prices surge 61%, fuel 7.2% inflation in April
-The Economic Times Soaring vegetable prices pushed inflation higher in April, while fuel and manufactured product prices sustained their pressure posing a fresh policy challenge and announcing the return of price pressures in Asia's third-largest economy. Data released by the commerce & industry ministry on Monday showed the annual rate of inflation, based on monthly wholesale price index, stood at 7.23% for April, 2012, compared to 6.89% for the previous month and...
More »How normal monsoon could impact agriculture, inflation, income & storage-Mishita Mehra
Last week, the Indian Meteorological Department (IMD) released its first annual monsoon forecast for June-September. Monsoons are likely to be normal with the probability of deficient or excessive monsoons being relatively low, according to IMD. If this prediction comes true, what does this really mean for India's economy? Impact on agricultural output: The first and most important impact is, of course, on agricultural production, especially in the kharif or summer season....
More »Sound and fury, signifying nothing-Shailaja Bajpai
News coverage of the Aarushi case, Sachin in Rajya Sabha, and the revelation of the Bofors whistleblower added little to the discussion Have you noticed that the hilarious news spoof, The Week That Wasn’t (CNN-IBN) bears an uncanny resemblance to every day’s TV news/ discussions? We’ll call it, the news that wasn’t. News. And it goes something like this: Monday, Nupur Talwar, denied bail, was jailed in Aarushi and Hemraj murder cases. All...
More »Pak Potatoes rescue Indian consumers-Madhvi Sally
AHMEDABAD: With Potato prices ruling at Rs 20 a kg in retail in the domestic market, traders from Jammu and Kashmir have started importing Potato from the two Line of Control (LOC) trade posts of Srinagar and Poonch. With zero import duty on import at the LOC trade points, Pakistani Potato is cheaper than the Indian variety by 20% to 40%. India's Potato production is expected to be 33.5-34 million tonne...
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