First food: business of taste
Good Food is First Food. It is not junk food. It is the food that connects nature and nutrition with livelihoods. This food is good for our health; it comes from the rich biodiversity of our regions; it
India
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Iran firm on its gas price
Striking down the requests of the governments of India and Pakistan, Iran has made it clear that the country will not sell its gas at a knock-down rate. "The price suggested by India and
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Sugar for oil
Energy crisis jacks up prices, creates supply problems
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What's wrong with cheap energy?
Subsidies and low prices of energy do not help the poor, in whose name these steps are ostensibly taken; they merely fatten the urban and rural elite
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Energy Efficiency (Advertisement)
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Government raises petrol and diesel prices
AFTER several rounds of deliberations on raising auto fuel prices, the government finally decided to bite the bullet. Despite the Left's opposition it has raised petrol and diesel prices by Rs 2/litre and Re 1/litre, respectively, from February 15. The current price of petrol in Delhi is Rs 45.52/litre (from the earlier price of Rs 43.52/litre) and diesel is Rs 31.76/litre (from Rs 30.48/litre).
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Sovereign wealth fund for overseas energy assets
The government is planning to create a multi-billion-dollar sovereign wealth fund to invest in energy assets such as oil, gas and coal across the world. "The plans are at a very initial stage. A decision on this would be taken after the budget,' Planning Commission energy adviser Surya P Sethi said here. "The fund, if set up, will invest in overseas oil, gas and coal assets.' Sethi did not give any idea of the possible size of the fund, but said: "It has to be in billions of dollars.' According to the latest data available with the Reserve Bank of India, the country's foreign exchange reserves stood at about $290.8 billion for the weekended February 8, up 57% from a year earlier. A sovereign wealth fund comprises assets such as stocks, bonds and other financial instruments, which is owned and managed by the government. The funds are deployed overseas for higher returns. The fund will be on the lines of Temasek Holdings, a sovereign wealth fund owned by the Singapore government. Officials are of the view that low returns on investments in US treasury bills and other sovereign securities did not cover the costs of maintaining huge forex reserves, and justified establishing a fund that could deliver higher returns. Last year, state-run India Infrastructure Finance Co Ltd set up an offshore unit in London to use part of the country's reserves to help local Companies import equipment for infrastructure projects. The corpus of this fund is $5 billion. The central bank has previously expressed reluctance at using forex reserves to set up an investment fund as it said the build-up in reserves was largely to insulate the Economy from the impact of huge capital inflows, which could be reversed at short notice.
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Brinda questions Deora on fuel price hike
Picking on an advertisement issued by the Petroleum Ministry to explain the recent fuel price hike, CPI(M) Politburo member and MP Brinda Karat wrote a letter to Petroleum Minister Murli Deora on Tuesday, questioning the Ministry's claim about the Government absorbing a financial burden of over Rs 71,000 crore during the current financial year. "I believe that the claim is not based on facts. In fact, the entire campaign launched by your ministry is misleading,' she said, seeking answers to a five-point questionnaire.
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Rationalise levies on petro products for long-term good
WE ALL know the critical role played by oil and gas in the economic development of a country. Fuels such as PDS kerosene and domestic LPG are essential commodities, next only to food, and impact the life of common man in a major way. Therefore, managing the supplies and prices of sensitive petroleum products is a key policy issue for the government.
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Energising reserves
A wealth fund with dedicated funds from forex reserves would add muscle to India's race for energy supplies around the world.
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Recession is iffy, inflation looks certain (Editorial)
Given the way world prices for food, energy and other industrial goods are moving, the potential implications on the price situation at home is of great import and cause for concern, says Saumitra Chaudhuri THISis a strange year, most likely it will get stranger. There are so many conflicting signals as to where the world economy is headed that market movements are seized of great volatility. Eminent voices see a major US recession down the road; some among them are yet willing to see an "if' about it. Other street signs