Home
Finance Resources
Investment Planning
Banking
Finance
Stock Market
Futures & Options
Trading
Mutual Funds
Insurance
Taxation
Enquire
Home » Finance Current Affairs » India not worried on food shortages: PM

India not worried on food shortages: PM

Current Affairs

New Delhi: India has adequate food stocks to make up a shortfall in output this year and will step up efforts to mitigate distress of farmers hit by deficient monsoon rains, the prime minister said on Wednesday.

"We had record production and procurement of foodgrains in both 2007/08 and 2008/09. We thus have adequate food stocks and there is no cause for concern or fear of shortages of foodgrains in the country as a whole," Manmohan Singh told a conference.

The Congress party-led coalition government, which was re-elected this year on the back of its pro-farmer policies, is under pressure after food prices surged following the worst dry spell in nearly four decades.

Monsoon rainfall, a lifeline to India's $1 trillion plus economy, were a fifth below normal between June and September 7, but a top weather department official forecast it to narrow to 15-18 percent by the end of this season.

"We have to recognise that most areas of the country will probably still have deficient rainfall and therefore we have to redouble our efforts to mitigate rural distress arising from the after effects of drought," Singh said.

He said the rural job scheme needs to be implemented at a faster pace across the nation, as it would act as a "safety net" for farmers whose crops failed.

Last week, the Planning Commission forecast foodgrain output to be lower by 18 million tonnes in 2009/10, and this could propel the annual inflation rate beyond the comfort zone of 4-5 percent by end March.

The widely watched wholesale price index was down 0.21 per cent in the 12 months to August 22, distorted by the base effect of last year's high energy prices and suppressing the rise in food prices.

On Monday, the central bank governor said inflation was becoming a concern sooner than anticipated and the current monetary stance must be unwound, sending bond yields higher.



More Current Affairs
1 2 3 4 5 6 7 8 9 10 11 >> Next


put comment
Domain Registration | Windows Hosting | Linux Hosting | Java Hosting | Virtual Dedicated Server | Dedicated Server | Reseller Web Hosting | Unlimited Windows reseller hosting | Unlimited Linux reseller hosting | Cheap Windows reseller hosting | Cheap Linux reseller hosting | Cheap Windows hosting | Best Windows hosting | Windows hosting Multiple Domains | Unlimited Windows hosting | Compare hosting plans | Cheap Linux hosting | Best Linux hosting | Linux hosting Multiple Domains | Unlimited Linux hosting | Cheap asp.net hosting | Best asp.net hosting | unlimited asp.net hosting | Cheap asp.net reseller hosting | Unlimited asp.net reseller hosting | Java Features | Cheap Java hosting | Best Java hosting | unlimited Java Hosting | Unlimited Linux reseller hosting | Java Hosting Multiple Domains| | Matargashti Full Song | Matargashti mp3 Download | Matargashti Video Download | Matargashti Song Tamasha | Prem Ratan Dhan Payo Songs Download | Prem Ratan Dhan Payo Songs mp3 Download | Prem Ratan Dhan Payo Songs Video Download | Pinga Song Download | Pinga Full Song mp3 Download | Pinga Song mp3 Download | Pinga Song Video Download | Latest Bollywood Updates | Bollywood Updates | Prem Ratan Dhan Paayo Songs Download|
© ProfitGuruOnline-2024. All Rights Reserved.