Food Security Bill will hurt the poor in the long run

Much ink has been spilled on the danger to the Indian economy from the effects of the National Food Security Bill (NFSB), which was introduced in Parliament on Thursday. The foodgrain subsidy is estimated to range from a low of Rs. 70,000 crore to as high as Rs. 100,000 crore, while the incremental cost for ensuring food security will be “only” between Rs. 25,000 crore and Rs. 40,000 crore. Those who champion the Bill have, understandably, a lower estimate of these costs.

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