September 5, 2010 6:50 PM

printer

Favourable monsoon spurs foodgrain production

With a favourable monsoon the foodgrain production including pulses is expected to be much higher than last Kharif. About 83 lakh hectare more land has been brought under sowing this season. According to official data, the kharif crops have been sown in over 966 lakh hectares. Paddy has been sown in about 319 lakh hectares, pulses over 109 lakh hectares and core cereals over 207 lakh hectares. Meanwhile, the Chief Economic Adviser to Finance Ministry Mr. Kushak Basu said in New Delhi that foodgrains for the poor should be distributed in small batches. He expressed fear that releasing them in bulk may lead to their misuse by vested interests. In his 12th Dharamnarain Memorial Lecture, he suggested that foodgrains to the poor should be sold at very low prices. The government has already decided to release 25 lakh tonnes of foodgrains to states following the Supreme Court directive. These foodgrains will be sold to the poor at BPL rates. Referring to the current rate of inflation Mr. Basu described it as painful advised against strong monetary and fiscal policies to check it as it will add to the unemployment. He favoured a flexible labour policy to allow freedom to companies to go for hire and fire of workers.

Most Read
View All arrow-right

No posts found.