Global food prices increased for the eighth consecutive month in February, with prices of all commodity groups monitored rising again, except for sugar, FAO said today. FAO expects a tightening of the global cereal supply and demand balance in 2010/11. In the face of a growing demand and a decline in world cereal production in 2010, global cereal stocks this year are expected to fall sharply because of a decline in...
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Global food prices increase for eighth straight month, UN agency reports
Global food prices rose for the eighth straight month in February, the United Nations Food and Agriculture Organization (FAO) reported today, while also warning that unexpected spikes in oil prices could exacerbate an already precarious situation in food markets. The FAO Food Price Index – a measure of basic food prices at the international level – averaged 236 points in February, up 2.2 per cent from January, the highest record in...
More »High on rhetoric, low on delivery by Himanshu
Budgets are no longer statements of accounts or expenditure. In the contemporary context, they are to be seen more as a statement of intent, ambition, reform and politics of inclusion. If these are the parameters on which Budget 2011 is to be judged, it fails despite an implicit statement of intent. For a government which has been elected on the agenda of inclusion, even the statement of intent is not new....
More »Pranab takes on board Sonia's concerns by Smita Gupta
Union Finance Minister Pranab Mukherjee made sure to defer to the Sonia Gandhi-led National Advisory Council's priorities as he presented the Union budget for 2011-2012 on Monday. The Minister took care to mention that the Food Security Bill, the NAC's top priority, was almost ready and would be brought before Parliament later this year. He also took on board the NAC's concerns on the Mahatma Gandhi National Rural Employment Guarantee Scheme...
More »A Budget for the Rich by R Ramakumar
Budget 2011-12 marks a sharp retreat of the government from the social and economic sectors. It has cut back expenditures in sectors that matter to common people, especially the poor. On the other hand, it has given huge concessions to the corporate sector in the form of tax cuts and exemptions. Let us take the overall fiscal stance of the budget. The underlying strategy is to reduce its fiscal deficit to...
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