Govt plans to implement Food Security Bill by year-end: Thomas

The National Food Security Bill was introduced in the Lok Sabha in December, and it is being vetted by the Parliamentary Standing Committee

New Delhi: The government today said it plans to implement the National Food Security Bill by the end of this year, reports PTI.

"We intend to implement the Food Security Bill by end of December 2012," Food Minister KV Thomas told reporters on sidelines of an event.

He said as per the projections of the Agriculture Ministry, the government has enough foodgrains to meet the requirements of Food Bill as well as exports till 2014.

The National Food Security Bill was introduced in the Lok Sabha in December, and it is being vetted by the Parliamentary Standing Committee.

The ambitious food security programme of the UPA government aims to provide legal entitlement over subsidised foodgrains to 63.5% of the country's population.

Once the new food laws are implemented, Thomas said, "The subsidy bill will go up to Rs1.12 lakh crore. The government has capacity to absorb additional subsidy of Rs3,000-Rs4,000 crore".

For the current fiscal, the food subsidy is estimated to be around Rs88,000 crore, which will go up to Rs1.09 lakh crore with revision in 2000 census and 1993-94 poverty line estimates, he said.

Foodgrain requirement under the Food Security Bill is estimated at 63 million tonne.

User

GM launches new Tavera, starting Rs7.51 lakh

“We hope that this vehicle will be leader in its segment," GM India president and managing director Lowell Paddock.

General Motors on launched the Bharat Stage IV emission norms compliant variant of its multi utility vehicle (MUV) Tavera, priced between Rs7.51 lakh and Rs10.34 lakh (ex showroom Delhi).

"With the help of this new Tavera we'll be able to now sell the vehicle in 13 cities where BS-IV norms are applicable. We hope that this vehicle will be leader in its segment," GM India president and managing director Lowell Paddock told reporters.

The company will source 2 litre BS-IV diesel engine from the Sonalika Group. The company has not been selling the MUV in 13 cities in the country where BS-IV norms are applicable.

GM India vice president P Balendran said the company expects to sell 25 thousand units of Tavera in this year compared to about 21 thousand units in 2011.

User

RBI will respond to market demand, if needed: Subbarao

“We are watching all the figures, we are watching the developments, sometimes we will take action whenever it is necessary,” the RBI governor said

Jammu: The Reserve Bank of India (RBI) will respond appropriately to the market demands, if needed, governor D Subbarao said on Tuesday, PTI reports.
"I cannot really comment on it (general inflation)... if we find that markets needs response, we will give a response... but I cannot really speculate on the fiscal movements outside the schedule," he said.

The RBI governor further said, "but we are watching all the figures, we are watching the developments, sometimes we will take action whenever it is necessary". He was replying to the question of general inflation in the country due to which markets have become jittery.

He was speaking to reporters on the sidelines of an outreach programme organised in Samba district's Surara village, 45-km from here. On the question about central bank's next policy review, he said, "I cannot say. It is our policy on 17th April, it would be decided then". He further said "this campaign for the financial inclusion is a shake campaign, this is done by the public sector banks, private sector banks and foreign banks soon".

"So the idea is that every bank must participate, all the banks are doing this, how they do this, we left it to them", he said adding "there are various banks to prepare the financial inclusion plans which are discussed and approved in the boards and then are recommended".

RBI has only said that all the banks must fulfil certain targets and how they do it, we will have to check that, he said.

"This is an outreach programme. In this outreach programme... the programmes that involves top management of RBI, governor, deputy governor, executive directors, together with scheduled banks like Jammu & Kashmir Bank and others and district administration to go to village across the country, with two purposes," he said.

"One is to talk people and understand their problems and understand their hopes and expectations, second is to tell them what RBI is doing, just as I tried to tell them right now, so that they know what they expect of RBI", he said.

User

We are listening!

Solve the equation and enter in the Captcha field.
  Loading...
Close

To continue


Please
Sign Up or Sign In
with

Email
Close

To continue


Please
Sign Up or Sign In
with

Email

BUY NOW

The Scam
24 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
Moneylife Magazine
Fiercely independent and pro-consumer information on personal finance
Stockletters in 3 Flavours
Outstanding research that beats mutual funds year after year
MAS: Complete Online Financial Advisory
(Includes Moneylife Magazine and Lion Stockletter)