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BUDGET 2018-2019 Special

Latest Updates - -The latest income tax slabs for 2018-2019 can be found here - Income tax slabs 2018-19.
-The latest free income tax calculator to calculate your latest tax and to compare your tax savings from previous year can be found here Free Income Tax calculator for calculating tax for 2018-19.

World Bank announces emergency measures to tackle rising food prices

World Bank announces emergency measures to tackle rising food prices around the world. The Bank endorsed bank head Robert Zoellick's action plan for boosting agricultural production.

The proposed steps include

  • Calling on the international community to make up the $500 million food gap required by the UN's World Food Program
  • Doubling of agriculture lending in Africa from $400 million to $800 million.
  • ncreasing financial support for short-term needs (restructuring existing projects and increasing the size of upcoming grants and loans when needed).
  • Expanding and improving access to safety net programs to protect the poor.
  • Advocating on the negative impacts of policies such as export bans, which can create price hikes in importing countries
  • High levels of trade tariffs and subsidies in the developed world.

The recent food prices has sparked food riots in Haiti, Philippines Ivory Coast and Egypt. It is to be noted that India has recently banned the export of rice from the country.

Food price hike due to

  • Spike in demand from China and India.
  • Poor weather in many countries that lead to decrease in production.
  • Decrease in production land availability due to rising demand for land.


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