Quote by Mr. Shailesh Vaidya, President, IMC on the proposed Food Security Ordinance

IMC extends a cautious welcome to the proposed decision Union Cabinetís to move one step forward to implement the important Food Security Bill, which is projected to benefit almost two-thirds of the countryís population

Online PR News – 04-July-2013 – Maharashtra – IMC extends a cautious welcome to the proposed decision Union Cabinetís to move one step forward to implement the important Food Security Bill, which is projected to benefit almost two-thirds of the countryís population. However, we need to keenly watch as to how the execution of the same will occur. There is no doubt that when implemented fully, this momentous Bill will affect grain production, procurement, distribution logistics and the nationís subsidy burden. Its implication on each of these four key areas needs to be carefully examined. The ballooning subsidy, in particular, could impact the already precarious fiscal deficit and display its adverse repercussions on the nationís inflationary scenario. While the intent behind this Bill is good, all its economic repercussions need to be clearly understood at the outset.

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