The huge expenditure on the food bill, with the attendant leakages, could well make fiscal recovery impossible In the first part of this article, we have estimated the actual cost of implementing the food security bill in its current form. In this part, we now examine the fiscal sustainability of the same. The current state of the revenue and expenditure trends of the Central government (refer table) show that while revenue...
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Record grain output in 2011 facilitates Bill
-PTI The agriculture sector performed exceedingly well in 2011, with record grain production of over 240 million tonnes giving enough leeway for the government to lift a ban on exports of wheat and non-basmati rice and introduce the food security bill in Parliament. Farmers’ long-standing demand for crop loans at a 4% rate of interest was met during the year, although with a rider that the facility would be available to...
More »Food Security Bill likely to hurt the poor more
-The Economic Times The Food Security Bill cleared by the Cabinet is likely to hurt the poor more than it helps them. India already has 54.7 million tonnes of rice and wheat lying as stocks with the Centre and the states, 29.7 million tonnes of grain in excess of the buffer stocking norm. Offtake of rice in the current fiscal year has been 74% of the allotment, and that of wheat,...
More »Why are farmers of Hoshangabad committing suicide?
-ANI The statistics for farmer suicides in India are as striking as they are shameful. One farmer suicide every 30 minutes in 2009, screamed a NYU School of Law report earlier this year. If one accepts that many suicides also go unreported, even this shocking statistics is perhaps an under-estimation. Why, then, would another three suicides, this time in Madhya Pradesh's Hoshangabad District, be newsworthy? For one, the suicides took place during the...
More »India needs 30% of grains output for new food bill
-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...
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