I want you to consider some well-known, oft-repeated facts: * About half of India’s children are malnourished, a record poorer than the world’s poorest area, sub-Saharan Africa. * India is home to a quarter of the world’s hungry — about 230 million people — according to the World Food Programme. * India is the world’s second-largest grower of rice and wheat, and more than 50 million tonnes of foodgrains lie in...
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EGoM likely to clear draft food security Bill tomorrow
An empowered ministers' panel meeting tomorrow is likely to take some decisions to tackle price rise and finalise the draft Food Security Bill, which seeks to give the poor the right to get rice and wheat at Rs 3 per kg. The empowered group of ministers, headed by Finance Minister Pranab Mukherjee, is scheduled to review the minimum export price (MEP) for Basmati. In the face of high food inflation, the...
More »A new deal for BPL families by Gargi Parsai
The Centre will set up a Central Food Security Fund to monetarily compensate the Below Poverty Line (BPL) beneficiaries of the Targeted Public Distribution System (TPDS) who fail to get the proposed mandatory 25 kilograms of wheat or rice per family per month at a subsidised rate of Rs. 3 per kg. The compensation would be at the economic cost of the foodgrains so that an entitled beneficiary can buy grains...
More »Government-led inflation
Food inflation remains extraordinarily high at 17.79%. The government emphasises supply problems caused by last year’s drought, But a bigger and less reversible problem is government-led inflation through big increases in the Minimum Support Prices (MSP). The MSP for wheat and paddy rose only modestly between 2002-03 and 2005-06 , from Rs 620 to Rs 650/ quintal and from Rs 530 to Rs 570/quintal respecticely. But after that the MSP shot...
More »Danger of inflation by CP Chandrasekhar
WELL before Budget 2010-11 was presented, inflation had emerged as the principal economic problem in the country. With food-price inflation running at close to 20 per cent, even the United Progressive Alliance (UPA) government at the Centre had been forced to recognise it as a problem that deserved as much attention as the objective of achieving a 9 or 10 per cent rate of growth, if not more. In fact,...
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