Skip to main content

Deadline for Food Act might be extended

Eighteen states have expressed their inability to complete rollout by September
Fearing spurt in prices of food items between July and December due to poor supplies, the Centre has directed all states to take strong action against hoarding and black- marketing of food items, particularly in areas prone to shortages, and start their own price monitoring cells.
The states have agreed to adopt a multi- pronged strategy, which includes reviewing the APMC Act for onions, potatoes and tomatoes to free inter- state movement. The food items most vulnerable to price rise are onions, potatoes, tomatoes, pulses, edible oils and rice.
“There has been slight increase in prices of pulses due to low production and for which we have decided to import 10,000 tonnes of pulses. Food inflation is under control and all states have assured us that they would take strict action against hoarders and black- marketers,” Paswan later told reporters, after a day- long meeting of state food ministers in price rise and status of National Food Security Act.
Agriculture Minister Radha Mohan Singh who also addressed the meeting said there was no need for panic and the Centre was ready with a contingency plan for almost all districts of the country and would help the states in whatever manner possible in the event rains were below normal.
“So far, monsoon rains were better than expected, although there is a forecast of deficit rains this year too. Farmers need not panic. We are ready with contingency plans to tackle any possible impact of poor rains on kharif crops,” Singh said.
The southwest monsoon is critical for India’s agricultural growth, as more than half of the total arable land in the country does not have proper irrigation facilities.

Meanwhile, the Centre’s plan to complete nationwide roll- out of the food security Act by September 2015 might come a cropper because as many as 18 big states, including Gujarat, Uttar Pradesh, Kerala and West Bengal have expressed their inability to complete the roll out of food law by September 30.

The Act, which provides legal entitlement for cheap grains to almost 67 per cent of the population, was passed by the previous United Progressive Alliance government in 2013 and had to implement within one year after proper identification of beneficiaries.

However, after the present National Democratic Alliance government came to power it had to extend the deadline for implementation as most states were not ready with their updated lists of beneficiaries and endtoend computerization, which it had made mandatory for getting benefits under food Act. Paswan warned that unless the Act is implemented, the Centre would be compelled to stop the ongoing additional grain allocation for below and above poverty line families from October 2015.

Most states also felt the Centre has lowered their grain allocation after the Food Act has been implemented as several eligible beneficiaries have been left out from its ambit. Uttar Pradesh, Kerala and Gujarat complained that the process of digitisation of ration cards, end- to- end computerisation and electronic devices in point of sale is not complete; therefore they would need some more time.
Himachal Pradesh said the pre- condition put by the Centre of digitisation of ration cards before implementing NFSA goes against the basic objective of the Act and is not advisable.
West Bengal Food Minister Jyotipriya Maullick said after the land boundary agreement between India and Bangladesh some enclaves, which were earlier part of India, has moved to Bangladesh and hence a re- validation of ration card holders is being done, which is why it won’t be able to adhere to the September 30 deadline. Bengal had earlier decided to partially implement the Act in three districts on a pilot basis before September 30.
Business Standard, New DElhi, 8th July 2015

Comments

Popular posts from this blog

Credit card spending growth declines on RBI gaze, stress build-up

  Credit card spends have further slowed down to 16.6 per cent in the current financial year (FY25), following the Reserve Bank of India’s tightening of unsecured lending norms and rising delinquencies, and increased stress in the portfolio.Typically, during the festival season (September–December), credit card spends peak as several credit card-issuing banks offer discounts and cashbacks on e-commerce and other platforms. This is a reversal of trend in the past three financial years stretching to FY21 due to RBI’s restrictions.In the previous financial year (FY24), credit card spends rose by 27.8 per cent, but were low compared to FY23 which surged by 47.5 per cent. In FY22, the spending increased 54.1 per cent, according to data compiled by Macquarie Research.ICICI Bank recorded 4.4 per cent gross credit losses in its FY24 credit card portfolio as against 3.2 per cent year-on-year. SBI Cards’ credit losses in the segment stood at 7.4 per cent in FY24 and 6.2 per cent in FY23, the...

SFBs should be vigilant, proactive to mitigate risks: RBI deputy guv

  The Reserve Bank of India’s Deputy Governor Swaminathan J on Friday instructed the directors of small finance banks (SFBs) to be vigilant and proactive in identifying emerging risks in the sector.Speaking at a conference for directors on the boards of SFBs, Swaminathan highlighted the role of governance in guiding SFBs towards sustainable growth with stability. He also emphasised the importance of sustainable business models.Additionally, he highlighted the need for strengthening cybersecurity to protect the entities against digital threats and urged for a stronger focus on financial inclusion, customer service, and grievance redressal to ensure a broader reach of banking services.Executive Directors S C Murmu, Rohit Jain, and R L K Rao, along with other senior officials representing the Supervision, Regulation, and Enforcement Departments of the RBI, also participated in the conference.   -  Business Standard  30 th  September, 2024

Brigade Hotel Ventures files draft papers with Sebi for Rs 900 crore IPO

  Brigade Hotel Ventures Ltd, owner and developer of hotels in South India, has filed draft papers with capital markets regulator Sebi to raise Rs 900 crore through an initial public offering (IPO).The proposed IPO is entirely a fresh issue of equity shares with no Offer-for-Sale (OFS) component, according to the draft red herring prospectus (DRHP).Proceeds from the issue to the tune of Rs 481 crore will go towards payment of debt, Rs 412 crore will be allocated to the company and Rs 69 crore to its material subsidiary, SRP Prosperita Hotel Ventures Ltd.Additionally, Rs 107.52 crore will be used to purchase an undivided share of land from the Promoter, BEL, and the remaining funds will support acquisitions, other strategic initiatives, and general corporate purposes.The company may raise up to Rs 180 crore through a Pre-IPO Placement.   If the placement is undertaken, the issue size will be reduced.Brigade Hotel Ventures Ltd is a wholly-owned subsidiary of Brigade Enterprises ...