The government has made clear its intentions regarding food prices and availability through the President’s address to the joint session of Parliament. President Pratibha Patil has assured the houses that the government ‘continues to accord the highest importance to ensuring relief to the aam aadmi on food prices’.
President Patil added, “It is imperative that as our economy grows apace, the disadvantaged sections of society be made part of the Indian success story.”
The President in her address said that a core committee comprising of chief ministers and cabinet ministers is vigilantly watching the food scene and considering various policy options. Some of the policy decisions already implemented are decontrolling import of essential food items like sugar and wheat and keeping PDS food prices in check.
The President blamed poor summer harvest for the spiraling inflation. She said, “In the longer term, our food security can be ensured only through sustained efforts at increasing agricultural productivity combined with a comprehensive reform of the public distribution system and open market intervention.”
Legislation is being planned by the government to ensure food security. Meanwhile, the President assured the houses that issues concerning food prices and availability will not retard the growth trend displayed by the economy.
The government’s firm stand on maintaining economic growth in the present pace is evident in the President’s speech. “We now look forward confidently to further improvement in our growth performance in 2010-11. My government will aim at a growth rate above 8 per cent in 2010-11 and seek to achieve 9 per cent growth in 2011-12,” she said.
This means that the imminent Union Budget will initiate measures towards fiscal consolidation to rein in the ballooning fiscal deficit. Without this, continuing in the growth path seems a remote prospect.
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