PSUs Flouted Norms On Non-Basmati Rice Exports During UPA-I

THE government has admitted that public sector units (PSUs) did not follow a transparent procedure for nonbasmati rice exports during the UPA

The Karnataka High Court on Friday upheld the ban imposed by the state government on export of iron ore and dismissed the writ petitions fled by the 40 affected mining companies.

Union steel minister Mr Virbhadra Singh today called for a ban on iron ore exports, saying that the country must take lessons from neighbouring China and the US for using finite natural resources judiciously.

India has world's fifth-largest estimated reserves of iron ore at about 25 billion tons, of which only a fraction is minable.

THE loss of marine life in the Gulf of Mexico after the disastrous BP oil spill has become a business bonanza for Indian prawn and shrimp farms. Seafood exports to the US have seen an unexpected growth in the first five months of the current fiscal.

Seafood shipped to the US has seen a 60% increase in the April to August period this year.

Auto major Tata Motors on Monday rolled out the Tata Aria, which the company claims is the country

Devika Banerji
Blame stubborn procurement policy as the root of all evil

With the government sitting on heaps of foodgrain and with an acute shortage of quality storage facilities, analysts, some within the government, suggest exporting foodgrain and reviewing procurement policy.
The suggestion is gaining ground among advisors and experts, given the current global situation, where wheat pric

INFLATION BEGETS INFLATION, AND THE RISE in the prices of one commodity impacts another. So, the inter-relation among prices of various commodity groups and the quantity-price interaction need to be understood. The other issue relates to the productive aspect of price rise and the non-productive aspect, also known as core inflation.

The contracts for future wheat imports are currently on hold, as global prices have significantly increased following an export ban in Russia, Uzbekistan and Kazakhstan.

International prices of wheat are currently hovering around $370 per tonne