The government on Tuesday approved a short-term loan of Rs 5,000 crore for Food Corporation of India (FCI), which will help the organisation meet its working capital requirements this fiscal. The proposal was cleared in the meeting of the Cabinet Committee on Economic Affairs (CCEA) held here. "The CCEA today approved a short-term loan of Rs 5,000 crore to the FCI for 2010-11," an official statement said. FCI, the nodal agency for...
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‘Yes, storage, sub-standard grain are problems'
The government on Thursday admitted to problems in storage as well as supply of sub-standard foodgrains to the poor after senior Communist Party of India (Marxist) leader Brinda Karat expressed serious concern in the Rajya Sabha over grain rotting. “I do admit,” Finance Minister Pranab Mukherjee said after Ms. Karat charged the government with supplying rotten foodgrains to remote tribal areas. She showed samples of spoiled wheat and rice in the...
More »Problem of plenty
With buffer stocks ahead of harvest being twice the norm, limiting wheat procurement in the coming season is a judicious option. It is time for a thorough overhaul of the foodgrains procurement and buffer stocking policy. With the rabi season harvest of grains — mainly wheat, followed by paddy — just days away, a major challenge will be finding appropriate storage space. As of March 1, the Food Corporation of India...
More »6,348 tons of stored foodgrain damaged in 2010-11: Thomas
About 6,348 tons of foodgrain stored in various government outlets across the country were damaged primarily due to storage pest attack and leakages in godowns in 2010-11, a fact which does not go down well for the country's food security. “The foodgrain get damaged due to various reasons such as storage pest attack, leakages in godowns, procurement of poor quality stocks, during movement of stocks, exposure to rains, floods, etc,” Union...
More »Welfare Must Walk The Talk by AK Shiva Kumar
Social priorities have received scant fiscal attention There is good reason to feel let down by this year’s budget for the advancement of social sectors. The disappointment is more given that the Union finance minister opened his speech by stating that “we are reaching the end of a remarkable fiscal year” and followed it up by immediate assertions that “growth in 2010-11 has been swift and broad-based”, that “the economy...
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