date:Aug 08, 2014
d prices will be vital if India is to achieve a broader revival from a two-year-old slowdown in growth. Food bills devour 35 percent of household incomes, sapping appetites for discretionary spending.
Prices for fresh produce also are causing indigestion at India's central bank, which wants to reduce retail inflation to 6 percent by 2016. The Reserve Bank of India held rates on Tuesday, citing the risk that inflation could get higher due to weak monsoon rains needed for summer crops to grow.
A