In the pre-budget economic survey 2010-11, the Union finance ministry made a strong pitch for the pro-growth impact of investment in human capital adding, “fortunately, there is awareness of this in India and efforts are afoot in terms of budgetary allocation and actual initiatives to boost the development of skill and human capital.” Given this leading comment, it was only natural that Union finance minister Pranab Mukherjee laid special emphasis...

Increase in offtake under various public distribution schemes. Supply of wheat and rice will have to be doubled if the proposed National Food Security Act for targeted beneficiaries is implemented with the current delivery mechanism, in which leakages are too high, the economic survey for 2010-11 has said. “Once we give a legal guarantee to people about the food that they are to receive, if we try to deliver on this promise...

India's finance minister announced on Monday a food security bill for 2011/12, a measure that would provide cheap grains for millions of India's poor but which has sparked worries of a huge fiscal cost. It was one of the first signs of populism in the annual budget as Prime Minister Manmohan Singh confronted high prices and corruption scandals as well as elections in five states this year. In his ongoing budget speech,...

Is the chemical fertilizer-based food production system sustainable? As a result, what happens to the soil and the larger issue of food security? After a raging debate, the government finally decided to hike the chemical fertilizer subsidy, to catch up with spiralling fertilizer prices in the global market. Also, there is talk about bringing urea under the Nutrient Based Subsidy (NBS) system and decontrolling its prices. Obviously, the fertilizer industry...

The economic survey on Friday favoured a phased opening of foreign direct investments in multi-brand retail saying it could help address concerns of consumers and farmers, besides bringing technical know-how. Even as the debate over FDI continues, the survey said during 2011-12, projects worth Rs 24,143 crore are expected to be completed adding a capacity of 168.6 lakh square feet. "Permitting FDI in retail in a phased manner beginning with metros and...