-The Business Standard   Concerned over rising inflation, the Inter-Ministerial Group (IMG) today suggested opening up multi-brand retail to foreign investors and changes in agriculture marketing laws to check the rate of price rise. “We are taking a clear position on Foreign Direct Investment (FDI) in multi-brand retail. Of course, it is a recommendation, not policy,” said chief economic advisor and IMG chairman Kaushik Basu. The IMG, he added, favours formulation of a...

Unpaid bills of Rs 17,000 crore — and growing — have revealed hidden food subsidies and acute financial mismanagement as the government prepares to adopt the costliest, most ambitious legislation of its tenure. Documents accessed by Hindustan Times reveal this is the money the government now owes the state-run Food Corporation of India (FCI), hampering its mammoth operation of buying grain from the farmer, storing it and selling it cheaply...

-The Economic Times   World Trade Organisation (WTO), the primary international body to help promote free trade has questioned India for providing subsidy on only indigenous ammonium sulphate and not on the imported fertiliser. " WTO has asked India to furnish details as to why it has kept imported ammonium sulphate out of the ambit of Nutrient-Based Subsidy (NBS) policy," a senior Fertiliser Ministry told PTI. The Fertiliser Ministry is still examining the...

-The Indian Express   With Trinamool Congress chief Mamata Banerjee resigning from the Union Cabinet to take over as the Chief Minister of West Bengal, the Sonia Gandhi-led National Advisory Council (NAC) today completely sidelined her objections against government role in land acquisition — even for private industry. “The government will be acquiring 100 per cent of the land for public purpose by offering very good compensation to landowners. If the public purpose...

Land acquisitions in India are invariably marked by violent protests. Is politics responsible for stirring up passions? Is it loss of a means of livelihood that landowners resent? Or is there a fundamental problem with the way acquisition is done that stirs up a hornet's nest? Look at the last issue first. There are two fundamental problems with the present system of land acquisition: the process of acquisition, and the...