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LATEST NEWS UPDATES | Union Budget 2014: Food security act to continue

Union Budget 2014: Food security act to continue

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published Published on Jul 12, 2014   modified Modified on Jul 12, 2014
-The Times of India

 

The NDA government committed to continue UPA's flagship Food Security Act to ensure that the poor get wheat and rice at subsidized rates. The budgetary allocation has been increased to Rs 1.15 lakh crore in comparison to Rs 92,000 crore during the last financial year.

Finance minister Arun Jaitley said, "Even if due to inadequate rainfall there is a marginal decline in agriculture production, stocks in the central pool are adequate to meet any exigency. Government shall, when required, undertake open market sales to keep prices under control."

The minister said the government is committed to reforms in the food sector and restructuring of Food Corporation of India, reducing transportation and distribution losses and efficacy of the public distribution system.

To increase warehousing capacity for enhancing the shelf life of agriculture produce, the government proposed allocation of Rs 5,000 crore for creating scientific warehousing infrastructure in the country.


The Times of India, 11 July, 2014, http://timesofindia.indiatimes.com/budget-2014/union-budget-2014/Union-Budget-2014-Food-security-act-to-continue/articleshow/38169227.cms


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