Former finance minister and BJP MP Yashwant Sinha has been vociferously taking on the government regarding the Food Security programme (FSP).
Touted as the biggest spending programme on food in the world, the government is expected to spend an estimated Rs. 1,25,000 crore annually. The Food Security Bill was aimed at giving legal rights to 67% of the population for a uniform quantity of 5 kg food grains at a fixed price of Rs 1-3 per kg through public distribution system.
Former finance minister and BJP MP Yashwant Sinha has been vociferously taking on the government regarding the Food Security programme (FSP). Recently he said that a legislation like a Food Security Bill has been passed through the ordinance route is absolutely unacceptable. What was the hurry in pushing something which had not been done in nine years and three months, questioned Mr. Sinha.
In a hard-hitting piece published in the Economic Times, Sinha stated that Yet, Sonia Gandhi is determined to repeat the mistakes of her late husband Rajiv Gandhi.
He wrote that in 1991, India faced its most serious economic crisis due largely to the profligacy of the Rajiv Gandhi era. He called on the government to remember that when the country faced its worst economic crisis, the Congress party, then an ally of the government, jeopardised the future of India for its own petty political gains.
The Congress party compounded its sin further by subsequently withdrawing support from the government, forcing a general election and taking the country to the precipice, Sinha wrote.
The current account deficit was 2.5% of GDP in 1991. It stands at 5% today. Fiscal consolidation was my theme in 1991 and remained my quest throughout the five Budgets I presented as finance minister in the Atal Bihari Vajpayee government, he writes concluding that “Manmohan Singh and I were on the same page in 1991 regarding fiscal consolidation.
I still stand by my conviction. What does Manmohan Singh stand for today?”
India Infoline Research Team / 15:28, Mar 13, 2015
Markets are now reinforcing the perception of an early interest rate hike by US Federal Reserve, with consensus calling for the hike taking place in June, when compared with the prior expectations of a hike in September.