-The Telegraph New Delhi: The Congress today indicated that the food security scheme would be its main electoral plank, describing it as the biggest ever government intervention in the world to fight hunger and malnutrition. President Pranab Mukherjee today signed the food security ordinance that entitles two-thirds of India's population to 5kg food grains every month at highly subsidised rates. The Centre plans to convert it into an act soon. Congress communications chief...
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Food Security Bill to partly hurt ongoing recovery; 1QFY14 earnings in focus
-The Economic Times MUMBAI: The Union Cabinet this week passed an ordinance to implement the National Food Security Bill (NFSB). The bill guarantees legal entitlement of food grains at a subsidised price to ~67 per cent of India's population. The ordinance will come into effect immediately once it is signed by the President. But it also needs to be approved by both the houses of Parliament in the monsoon session within six...
More »Food bill not to hurt coffers
-The Telegraph Mumbai: The immediate fiscal impact of the food security programme is going to be manageable. Since implementation of the scheme across India will take time, the cost burden for the programme in fiscal year 2013-14, in addition to the budgeted food subsidy of Rs 90,000 crore, has been estimated by Edelweiss Research at Rs 10,000 crore. This is roughly 0.1 per cent of the gross domestic product (GDP). But once the...
More »Maharashtra govt to sell 30% cheaper veggies at 10 city centres
-The Times of India MUMBAI: Unable to prevent prices of vegetables and fruits from going through the roof, the state government is now promising their supply to Mumbaikars at reduced rates, a promise observers say needs to be taken with a pile of salt. Starting Monday, the government will-for the first time since 1999-sell vegetables and fruits at a price 30% lower than the current retail rate at select co-operative outlets...
More »Food Bill: Is a central food scheme necessary?
-The Business Standard TN, Chattisgarh already successful; Karnataka,MP,Odisha have announced schemes Food security today became a law. President Pranab Mukherjee gave his consent to the ordinance today morning. The Cabinet had already cleared the ordinance on Wednesday. With this, almost 800 million of India's 1.2 billion population may now be entitled to 5 kgs of foodgrain each a month at subsidized rates. Subsidized rates are--Rs 3 a kg for rice, Rs 2 a...
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