March 5, 2011 7:17 PM

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Govt expresses concern over state of food economy

The government has expressed concern over the state of food economy in the country. Addressing the captains of industries today in New Delhi, Finance Minister Pranab Mukherjee said that this needs immediate attention. He said, new initiatives on edible oils, vegetable clusters, protein supplements, nutri-cereals and fodder have been taken to address the problem.Besides, the initiative on pulses and extending green revolution in the Eastern region should help in meeting the growing demand with improved supply. He said, the government has also increased the credit availability to agriculture and rewarded the farmers who are able to repay their loans in a timely manner by an effective interest rate of 4 per cent. The Finance minister observed that sustainability of the growth momentum in the medium term depends critically on the quality and pace of infrastructure development. Government's intention has been to attract and leverage private investment in infrastructure to meet the growing requirement of the economy. He said that the government has initiated programme of providing unique identities to the people, focusing initially on the poor and the marginalized, through the Unique Identification Authority of India. Provision of identity will enhance the access of poor and marginalized to public services and enable efficient delivery of benefits directly to the targeted population. Talking about financial inclusion, the Finance Minister said that government has given high importance to financial inclusion and developed an innovative approach to cover the entire gamut of financial services on savings, credit, insurance and transfers.

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