Subsidised rice scheme to take off in State today

July 10, 2013

Rice_for_1rsBangalore, Jul 10: The Congress government is all set to roll out “Anna Bhagya Yojane,” its flagship scheme to supply rice at Re one per kg to below poverty line (BPL) families, on Wednesday, hoping that the Centre's food security ordinance would ease the burden of purchasing costly rice once it is implemented.

The scheme, the implementation of which was twice postponed due to non-availability of rice, is scheduled to be launched by Chief Minister Siddaramaiah at a public function organised at Freedom Park here. The government will provide 10 kg rice per person and a maximum of 30 kg to a family under the scheme.

As many as 98 lakh families, including 86.89 lakh BPL and 11.11 lakh Antodaya Anna Yojane (AYY) families, will benefit from the scheme. The government has discontinued providing rice to Above Poverty Line (APL)  families and decided to divert the rice meant for APL families to implement Anna Bagya Yojane.

The scheme requires a total of 2.84 lakh metric tonnes (MT) of rice every month. The Centre is providing 1.77 lakh MT, including those under BPL, APL and AYY quota. As a result, the government has decided to buy 107 lakh MT of rice from open market and other sources.

It has, however, bought only 28,000 MT of rice from the Chhattisgarh government at Rs 22.90 per kg for the month of July as it has some accumulated stock. The government will be participating in online trading through National Commodities and Derivatives Exchange Ltd (NCDX) from July 24 to procure rice. The estimated annual burden on the State exchequer due to the scheme is Rs 4,800 crore. But, once the Food Security Bill comes into effect, the burden will reduce.

The national food security ordinance promulgated recently by the President is most likely to ease the burden on the government. For, the Centre is likely to provide food grain to an estimated 93 lakh BPL families at Rs 3 per kg to the state government.

Speaking to reporters, Minister of State for Food and Civil Supplies Dinesh Gundu Rao said the state has sufficient stocks to implement the scheme this month. “At present, we have 2.78 lakh MT plus some buffer to last the entire month under the scheme,” he added.

On when the rice is likely to reach the consumers, the minister said that there will be no change in the delivery time. “We do not want to disturb the present delivery time as it requires the fair price shops to pick up the food grains from our taluk godowns, which in turn will receive the rice from our warehouses. The rice will be distributed as per the present time frame, between the 15th and 28th of each month,” he stated.

The government will soon ink a MoU with the Chhattisgarh government for procuring rice. And, the stock will come in next two months as there is no capping or time-frame for procuring it.

The minister also said a helpline will be launched for the consumers to register their complaints, if any.

It will make people dependent on State: H K Patil

Rural Development and Panchayat Raj Minister H K Patil said that the rice scheme would make rural people ‘dependents’ on the state largesse.

Speaking at an event at Raj Bhavan on Tuesday, Patil, a senior Congress leader, said:

“I have to vent my frustration somewhere and I believe that this is the right forum, in the presence of the Governor, to point out certain facts. When the government promises rice at Re one, provide free houses and doles out free land, we have to contemplate whether we are making the lives of people comfortable or dependent. We (State) need to concentrate on making rural people more self-reliant and ensure their sustainable growth.”

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News Network
February 28,2020

Feb 28: Life was limping back to normalcy in some parts of the riot-hit northeast Delhi, with police and paramilitary personnel maintaining strict vigil in view of Friday prayers at mosques.

Police officers said they were also making extra efforts to quell rumours, and holding regular flag marches and interactions in the neighbourhoods of affected areas as confidence-building measures.

In some areas of northeast Delhi, signs of normal life were witnessed with opening of shops. In violence-hit areas also, shops in streets and bylanes were open.

Nearly 7,000 paramilitary forces have been deployed in the affected areas of the northeast district since Monday. Besides, hundreds of Delhi police personnel are on the ground to maintain peace and prevent any untoward incident.

At least 38 were killed and over 200 injured in the communal clashes that broke out in northeast Delhi on Monday after violence between citizenship law supporters and protesters spiralled out of control The areas affected include Jaffrabad, Maujpur, Chand Bagh, Khureji Khas and Bhajanpura..

The Union Home Ministry had said on Thursday night that no major incident was reported from the northeast district in the past 36 hours, It had said that prohibitory orders imposed under Section 144 would be relaxed for 10 hours in view of improvement in the situation.

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Agencies
August 8,2020

New Delhi, Aug 8: Former Union Minister Rajiv Pratap Rudy on Saturday said that it is unfair and unfortunate to blame the pilots or the Airports Authority of India (AAI) for the Kerala place crash which took place on Friday evening.

"It is very unfortunate and unfair when experts come under television channel and they try to put blame on the Airports Authority of India or the pilots. Airport authority in an institution which has had survived various tests of time for the last 65 to 70 years, or pre-independence, so it is unfair to blame them," he said.

While speaking to news agency, Rajiv Pratap Rudy said that the 737 Boeing aircraft is reliable and the pilots were experienced, and it was wrong to blame them.

He further said that there are many possibilities on what could have happened, and said, "It is an accident and we need to find the facts."
Rajiv Pratap Rudy also expressed his deepest condolences to the family members of those who lost their lives in the plane crash. "This accident is terrible and heart-rending. 

I offer my deepest condolences to the family members of the captain and first officer, and the families of passengers who died and were injured," he said.

At least 18 people died when a plane carrying 190 passengers came from Dubai met with an accident at Karipur airport in Kozhikode on Friday evening, as per the Directorate General of Civil Aviation (DGCA).

"Eighteen people, including two pilots, have lost their lives. It is unfortunate. 127 people are at hospitals, others have been released," said Puri on the Air India Express flight that crash-landed on Friday evening.

Air India Express Dubai-Kozhikode IX-1344 flight, carrying 190 people on board from Dubai under the Vande Bharat Mission, skidded off the runway at Karipur Airport in Kozhikode at 7.41 pm on Friday in which several people sustained injuries.

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News Network
January 21,2020

Jan 21: Indian policymakers may make it easier for companies to tap foreign funding, as a prolonged cash squeeze makes it tough for firms to borrow at home.

Investors are speculating about potential steps Finance Minister Nirmala Sitharaman could unveil when she presents the nation’s budget on Feb. 1. These measures may include freeing up firms to borrow at higher rates and offering tax breaks to global funds.

“The government will need to relax local rules to make it easier for Indian companies to raise debt overseas and tide over the funding crunch in the onshore market,” said Raj Kothari, London-based head of trading at Jay Capital Ltd. “At the same time, they need to ensure that the borrowers tapping offshore markets abide with stricter corporate governance so as to avoid further defaults.”

A prolonged crisis in India’s shadow bank sector and a pile of bad loans at traditional lenders is making it expensive for Indian companies, other than the best-rated firms, to access funding. The government has tried a series of measures to spur domestic credit, including providing so-called credit enhancement and allowing tiny firms to restructure debt.

Here are some steps Sitharaman may consider to spur foreign borrowing:

• She could raise the cap of 450 basis points above Libor, which limits overall foreign debt costs for Indian companies

• This could help lower-rated firms sell bonds abroad. Indian companies rated BBB currently borrow at more than 10%, about 3.8 percentage points more than their top-rated peers;

• Sitharaman could waive the withholding tax foreign investors need to pay on holdings of rupee-denominated debt sold by Indian companies abroad

• The waiver was offered between September 2018 to March 2019, but wasn’t extended as the highest global interest rates since the financial crisis deterred Indian borrowers. Since then, the three-month Libor has dropped by about 1 percentage point

• She could permit Indian property developers and housing finance lenders to sell overseas bonds for reasons beyond affordable housing projects

• New funding lines to the real estate sector, arguably ground zero of India’s economic slowdown, could help kickstart consumption and investment as the industry is the nation’s biggest job-creator.

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