-Press Information Bureau/ Ministry of Finance Economic Outlook, Prospects and Policy Challenges Macroeconomic fundamentals in 2014-15 have dramatically improved. Highlights are: * Inflation has declined by over 6 percentage points since late 2013. * The current account deficit has declined from a peak of 6.7 percent of GDP (in Q3, 2012-13) to an estimated 1.0 percent in the coming fiscal year. * Foreign portfolio flows have stabilized the rupee, exerting downward pressure on long-term interest...

Following the recommendations of the Shanta Kumar Committee report on restructuring of the Food Corporation of India (FCI), there are signs that the Central Government is in a hurry to replace the Public Distribution System (PDS) with cash transfers. The Government's intention has been revealed in two official letters (one dated 10 February 2015 and another dated 11 February 2015) that were sent from the Joint Secretary at Department of...

-Business Standard The Union government has remained equivocal in public about the Shanta Kumar report and whether the National Democratic Alliance intends to follow up and change the National Food Security Act. But at least on one count it has moved fast to implement the report - converting the subsidised food supply into cash transfers under the Direct Benefits Transfer Scheme. The food ministry has written to the Union Territories to...

-The Financial Express   Prime minister Narendra Modi has done well to launch a soil health card scheme, from Suratgarh in Rajasthan, which is slated to cover 14 crore farmers in the next three years. Soil health cards are an important component of agriculture reform since they help impress upon the farmer the damage done to the soil by excess use of the heavily-subsidised urea in comparison with other fertilisers. While the...

-Frontline A critique of the report of the high-level committee on restructuring the FCI and reviewing its role by TK Rajalakshmi SOON after assuming power at the Centre, Narendra Modi's National Democratic Alliance government set up a high-level committee on re-structuring the Food Corporation of India that was mandated to make the food management system more efficient. It was headed by Shanta Kumar, former Union Minister for Rural Development and former Chief...