Food Bill will torpedo Budget

The National Food Security Bill seems almost a fait accompli with the BJP too supporting it. The Parliamentary Standing Committee has okayed the Bill in January 2013. The Finance Minister has said in his Budget speech that the Bill would be presented before Parliament soon. He has also set apart Rs 10,000 crore over and above the existing food subsidy, to meet the incremental cost under Food Security Bill. But he has carefully avoided mentioning the amount of incremental cost – the most critical factor. In their speeches, finance ministers normally withhold inconvenient truths that will harm the rating...

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