-The Business Standard Food security should not be treated as a political ploy The government's rush to push through food security legislation as an ordinance, instead of waiting the few weeks till the next Parliament session, is disturbing. There continue to be several major problems with the food security scheme that deserve to be more thoroughly discussed at the highest level of law making than they have been so far. Nobody can...
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Food Security Bill to partly hurt ongoing recovery; 1QFY14 earnings in focus
-The Economic Times MUMBAI: The Union Cabinet this week passed an ordinance to implement the National Food Security Bill (NFSB). The bill guarantees legal entitlement of food grains at a subsidised price to ~67 per cent of India's population. The ordinance will come into effect immediately once it is signed by the President. But it also needs to be approved by both the houses of Parliament in the monsoon session within six...
More »Food bill not to hurt coffers
-The Telegraph Mumbai: The immediate fiscal impact of the food security programme is going to be manageable. Since implementation of the scheme across India will take time, the cost burden for the programme in fiscal year 2013-14, in addition to the budgeted food subsidy of Rs 90,000 crore, has been estimated by Edelweiss Research at Rs 10,000 crore. This is roughly 0.1 per cent of the gross domestic product (GDP). But once the...
More »Cong eyes rich harvest from food security
-The Telegraph New Delhi: The Congress today indicated that the food security scheme would be its main electoral plank, describing it as the biggest ever government intervention in the world to fight hunger and malnutrition. President Pranab Mukherjee today signed the food security ordinance that entitles two-thirds of India's population to 5kg food grains every month at highly subsidised rates. The Centre plans to convert it into an act soon. Congress communications chief...
More »A food security ordinance that will stimulate food inflation is passing strange
-The Times of India The Parliament's monsoon session is only about a month away. That the Union cabinet has yet taken the ordinance route to implement the national food security Bill signals the scam-tainted UPA government's desperation to woo voters before the next general elections. But the hope that expanding what is already one of the world's largest food security programmes will boost political fortunes is hallucinatory. The exchequer is already...
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