From next year, atta,bread,biscuits ,snacks and everything made from maida and sooji will become seriously more expensive. Even after a bumper crop, there just won't be enoughwheat for us. ET helps you join the dots. The trigger for wheat inflation that will hit each one of us is the Food Security Act, which kickstarts next year. The Food Corporation of India (FCI) will need substantially more wheat to supply three...
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Record output of foodgrains estimated; may dampen prices by Ruchira Singh
The government’s latest estimates show that foodgrain production in the crop year 2010-11 rose sharply by 10.75% to a record 241.56 million tonnes (mt), a move that could potentially have a dampening effect on inflationary expectations. The impressive increase led by wheat, maize and pulses is revealed in the final estimates for 2010-11, and is partially explained by the fact that 2009-10 was a drought year. The crop year extends from July...
More »The other oil problem
-The Business Standard For a country whose cuisine uses so much edible oil, India’s dependence on imported cooking oil is as economically debilitating as its dependence on imported energy. Barring a short spell in the late eighties, when the country was nearly self-sufficient in edible oil production, the bulk of the cooking oil needs have been met through imports for decades. Even today, domestic oilseed production does not meet even...
More »Challenging the poverty dimension of inflation by Madan Sabnavis
A perverse, yet novel reason put forward to explain high inflation is that the poor are eating more as they are becoming less poor. The Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) has been extolled for being responsible for higher consumption, which in a way is a vindication of high inflation. The extended logic used here is that if the poor are eating more and we are paying high...
More »The coming crisis for rain-dependent India by M Rajshekhar
It's that time of the year when Kishore Lal Singh's eyes almost involuntarily scan the skies. The monsoons are coming. In the months ahead, for this Bhil farmer growing cotton, maize and soya south of the Malwa plateau in Madhya Pradesh, life will again hang on a knife's edge. If it rains well, his two bighas (about four basketball courts) of cotton will yield 1,000 kg. If not, he will...
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