-The Indian Express Given indicators that the government is considering moving to cash transfers and replacing the public distribution system (PDS), and the release of the Shanta Kumar Committee report, the debate on how best to provide food security has been rekindled. The report has a careful analysis of the sources of inefficiency at various stages of the procurement, storage and distribution system. Especially heartening is the admission that the Food...
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Highlights of Economic Survey 2014-15
-Press Information Bureau/ Ministry of Finance Economic Outlook, Prospects and Policy Challenges Macroeconomic fundamentals in 2014-15 have dramatically improved. Highlights are: * Inflation has declined by over 6 percentage points since late 2013. * The current account deficit has declined from a peak of 6.7 percent of GDP (in Q3, 2012-13) to an estimated 1.0 percent in the coming fiscal year. * Foreign portfolio flows have stabilized the rupee, exerting downward pressure on long-term interest...
More »A flawed approach to food security -Deepankar Basu & Debarshi Das
-The Hindu With India continuing to be plagued by malnutrition, it is foolhardy to use the changed food production situation in the domestic economy as a reason for dismantling the FCI Within months of assuming office, the BJP-led National Democratic Alliance government set up a High Level Committee (HLC) in August 2014 to restructure, reorient and reform the Food Corporation of India (FCI). The eight-member HLC was chaired by senior BJP leader,...
More »A budget to transform -Pulapre Balakrishnan
-The Hindu In the present state of the economy, when there is excess capacity in manufacturing, adequate stocks of foodgrain and the inflation rate is trending downwards, there is an opportune moment for a public investment-centred fiscal expansion Over the past eight months, the government has issued some strong statements on the economy and taken some bold steps aimed at transforming it. As it prepares to present its first real budget we...
More »Your food is not cheaper yet, but wait a while -Harish Damodaran
-The Indian Express * Have global agri-commodity prices fallen? By how much? They have. The Food and Agricultural Organisation's latest Food Price Index (base: 2002-04 = 100) of 192.3 for October is down 6.9 per cent compared to a year ago, and 19.1% below the all-time high of 237.7 reached in February 2011. Prices of commodities such as corn, wheat, soybean, sugar and palm oil traded in international futures exchanges are today...
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