Over two and a half years after President Pratibha Patil announced the government’s plan to enact a food security law, the Union Cabinet on Tuesday is slated to consider three separate versions of the National Food Security Bill (NFSB) for introduction in the current session of Parliament. These three versions arise out of differences between the Food Ministry and the Law Ministry over the issue of grievance redressal mechanism. The Legislative...

-PTI   The Food Ministry has moved a Cabinet note on the National Food Security Bill which aims to provide legal entitlement to subsidised foodgrains to two- third of the country's population, sources said. The proposed bill, which would cost the government exchequer Rs 94,973 crore a year in subsidies, may be taken up for the Cabinet discussion soon as the Centre is keen on introducing it in the ongoing session of...

Farmers are joining India Inc in mind, body and spirit. In a quiet revolution underway across the countryside, growers are setting up companies, replete with balance sheets, professional CEOs, board of directors, and income tax returns.  By pooling together the land and produce of their shareholders, these companies are signing lucrative deals with large retail chains, food companies and exporters keen to establish reliable supply chains. As many as 200 companies...

The Reserve Bank of India on Friday expressed the hope that foreign direct investment in multi-brand retail would help in bringing down inflation. “...Certainly it (FDI in multi-brand retail) would help improve supply chain and we hope it should also contribute to reducing inflation,” Reserve Bank of India Governor D. Subbarao told reporters on the sidelines of a memorial lecture here. Dr. Subbarao said 51 per cent FDI in multi-brand retail would...

-Reuters   India is assuming grain purchases at around 30 percent of output in plans to expand its welfare programme, the food minister said, relying on increased yields and lower wastage to cover extra requirements and keeping exports on the agenda.  "We have made the calculation (for the Food Security Bill) on the basis of the grains we can produce and procure. We will procure only 30 percent of our production, 70 percent...