The wastage of millions of tonnes of food grain due to lack of storage facilities may have rocked parliament and prompted the Supreme Court to direct the government to distribute grains free of cost to the poor, but Kaushik Basu, chief economic advisor in the finance ministry, believes lack of warehouses is only part of the problem and is in no way responsible for the rising food prices. In ‘The economics...
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Poor storage not behind high food prices: Economic advisor by Nivedita Mookerji
The wastage of millions of tonnes of food grain due to lack of storage facilities may have rocked parliament and prompted the Supreme Court to direct the government to distribute grains free of cost to the poor, but Kaushik Basu, chief economic advisor in the finance ministry, believes lack of warehouses is only part of the problem and is in no way responsible for the rising food prices. In ‘The economics...
More »Rising prices: Top foodgrain producing states worst hit
Major foodgrains producing states have been the worst hit by rising prices, thanks to the Centre’s decision to pay more to farmers for their produce. Although inflation, as measured by the consumer price index (CPI), has been in double digits for nearly six months, there are several states where CPI in the rural region has been around 20%. A look at state-wise consumer price index numbers shows that pre-dominantly agri-based...
More »Pawar rules out free foodgrains by Vinaya Deshpande
Union Minister for Agriculture Sharad Pawar on Saturday dismissed the possibility of free foodgrains distribution. “The government already spends Rs. 66,000 crore on foodgrains subsidy. We buy wheat from farmers at Rs. 15 a kg, but sell it to the Antyodaya population at Rs. 2 a kg. How can we sell any cheaper than that?” He was speaking at a meeting of the Maharashtra Pradesh Nationalist Congress Party (NCP). Free distribution of foodgrains...
More »Grain stocks pile up at FCI on slipup
Has the food ministry been misleading over changes to its subsidised grain sale in the open market, resulting in massive excess stocks still lying with the Food Corporation of India (FCI) and huge wastage of grain at at time of high food inflation? In a letter to the PMO this month, the food and consumer affairs ministry has acknowledged that wheat and rice to retail consumers in states under the...
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