What price wheat?
EVEN AS THE Centre is deeply embroiled in the politically critical Ayodhya controversy, another issue of serious economic consequence is waiting to be addressed the minimum support price (MSP) for, and procurement of, wheat. The crop is getting ready for harvest in Punjab, Haryana and Uttar Pradesh. Indeed, harvest of the fine cereal has commenced, albeit on a modest scale, in Gujarat and Madhya Pradesh. The Centre, as has become its wont in recent years, is yet to announce the MSP. Obviously, it is dithering. The country is burdened with foodgrains buffer stock of about 57-58 million tonnes. This includes some 28 million tonnes of wheat; ironically, seven times more than theminimum stock norm of 4 million tonnes at this time of the year. Numerous schemes for liquidation of stocks have met with limited success because of tardy implementation by, or poor response of, State governments. Despite a decent performance (three million tonnes), expectations on the export front have not been me
