Food Security Bill [India]
India today has passed the Food Security Bill in the Lok Sabha which will be costing the economy USD$ 20 Billion and an addition of 3 million foodgrains to procure. The subsidised wheat and rice will be given to about 67% of the Indian Population. According to the United Nations Report, India is considered to be harboring about a quarter of the world's poor which are considered to be hungry.
In India, 50% of the children are malnutritioned. Due to inflation and loosing charm of the Rupee, the poor people will be spending extra money to keep the same level of intake per month. This is considered to be just the election hype to bring the Ruling Party in power. Actually Food Subsidy means giving food free to the poor families, whereas let the government put them into work and give them the same benefit will be creating productivity.
Other parties too started giving wheat for Re 1 and rice for Rs 2. Actually who'll be suffering by all these subsidy scheme is the tax payers. Their money is wasted for ever and more Indian will be added to the poverty line. Nothing else will happen. Inflation will improve and Current Account Deficit will Inflate.
CAT 2013; [Yahoo News]
In India, 50% of the children are malnutritioned. Due to inflation and loosing charm of the Rupee, the poor people will be spending extra money to keep the same level of intake per month. This is considered to be just the election hype to bring the Ruling Party in power. Actually Food Subsidy means giving food free to the poor families, whereas let the government put them into work and give them the same benefit will be creating productivity.
Other parties too started giving wheat for Re 1 and rice for Rs 2. Actually who'll be suffering by all these subsidy scheme is the tax payers. Their money is wasted for ever and more Indian will be added to the poverty line. Nothing else will happen. Inflation will improve and Current Account Deficit will Inflate.
CAT 2013; [Yahoo News]
