ID :
75533
Sun, 08/16/2009 - 09:21
Auther :
Shortlink :
https://www.oananews.org//node/75533
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Drought may hurt economy, but no one will go hungry: PM
New Delhi, Aug 15 (PTI) Cautioning that drought could have
an adverse impact on the economy, Indian Prime Minister
Manmohan Singh Saturday assured the nation that people would,
however, not be allowed to go hungry and black marketeers and
hoarders would be hounded.
After the global meltdown shaved off economic growth, the
drought threatens to make it worse by eating into agriculture
production. "It is our ardent desire that not even a single
citizen of India should ever go hungry.
"We will provide all possible assistance to our farmers to
deal with the drought... in view of deficient rainfall we have
postponed the date for repayment of bank loans... are also
giving additional support for payment of interest," he said in
his address to the nation on its 63rd independence day.
The UPA, which in its previous term wrote off farm loans,
also promised to take a slew of measures including increasing
capital flows into the country, encouraging exports or
increasing public investment and expenditure to put the
economy back on high growth trajectory.
"Restoring our growth rate to nine per cent is the
greatest challenge we face... we expect that there will be an
improvement in the situation by the end of this year, but till
that time we will all have to bear with the fallout of the
global economic slowdown," he said in his address from the
ramparts of the Mughal-era Red Fort.
He appealed to the business community to fulfill their
social obligations by joining the government's efforts to
ensure inclusive growth.
Cooperation of private businesses, Singh said, was
necessary to prop up growth that has slided from an average
nine per cent between 2004-05 and 2007-08 to 6.7 per cent in
the last financial year due to global uncertainties and has
further come under pressure owing to deficient rainfall in
most parts of the country.
Singh said India has adequate stocks of food grains and
all efforts would be made to control the rising prices of
essential commodities.
The country has a buffer food grain stock of 50 million
tonnes that is good to last demand for 13 months.
To ensure that no one goes hungry, he said the government
is working to bring a food security law that provides for
supply of 25 kg of rice or wheat at Rs 3 a kg to families
living below poverty line.
He appealed "to all state governments to exercise their
statutory powers to prevent hoarding and black marketing of
essential commodities."
Singh's warning to black marketeers comes in the wake of
a sharp rise in prices of pulses, sugar and other edibles.
Prices of lentils, especially toor dal, have spiralled up
from Rs 60 a kg in June to Rs 90 a kg now, partly driven by
speculation after monsoon this season brought 19 per cent less
rainfall than usual.
He said there was a need for a second 'Green Revolution'
to achieve the targeted four per cent growth in farm
production which was "achievable" in the next five years.
To mitigate farmers' miseries, he said loan repayment has
been postponed by six months till December 31, this year.
"Our scientists must devise new techniques to increase
the productivity of our small and marginal farmers," the Prime
Minister said, adding that the country needs to pay more
attention to those farmers who do not have means for
irrigation.
Nearly 66 per cent of India's cultivable land depends on
rainfall, while only 34 per cent is irrigated.
He also said more efforts are required to improve
physical infrastructure.
The government, he said, has initiated programmes to
construct 20 km of national highways every day. Similarly,
railways have started work on the dedicated freight corridors.
Singh also said that scope of the National Rural
Employment Guarantee Programme, which provides for 100 days
assured job to every poor-rural household, would be expanded
to take new types of works.
Referring to Bharat Nirman programme, he said: "We will
set more ambitious targets for schemes for house construction
and telecommunications in rural areas."
"We are giving careful attention to the problems of Air
India and will resolve them soon," Singh said, touching upon
the ailing aviation sector, especially the national carrier.
The Civil Aviation Ministry had recently made a
presentation before the Union Cabinet on the plight of the
sector and need for equity infusion in the national carrier
Air India. PTI
an adverse impact on the economy, Indian Prime Minister
Manmohan Singh Saturday assured the nation that people would,
however, not be allowed to go hungry and black marketeers and
hoarders would be hounded.
After the global meltdown shaved off economic growth, the
drought threatens to make it worse by eating into agriculture
production. "It is our ardent desire that not even a single
citizen of India should ever go hungry.
"We will provide all possible assistance to our farmers to
deal with the drought... in view of deficient rainfall we have
postponed the date for repayment of bank loans... are also
giving additional support for payment of interest," he said in
his address to the nation on its 63rd independence day.
The UPA, which in its previous term wrote off farm loans,
also promised to take a slew of measures including increasing
capital flows into the country, encouraging exports or
increasing public investment and expenditure to put the
economy back on high growth trajectory.
"Restoring our growth rate to nine per cent is the
greatest challenge we face... we expect that there will be an
improvement in the situation by the end of this year, but till
that time we will all have to bear with the fallout of the
global economic slowdown," he said in his address from the
ramparts of the Mughal-era Red Fort.
He appealed to the business community to fulfill their
social obligations by joining the government's efforts to
ensure inclusive growth.
Cooperation of private businesses, Singh said, was
necessary to prop up growth that has slided from an average
nine per cent between 2004-05 and 2007-08 to 6.7 per cent in
the last financial year due to global uncertainties and has
further come under pressure owing to deficient rainfall in
most parts of the country.
Singh said India has adequate stocks of food grains and
all efforts would be made to control the rising prices of
essential commodities.
The country has a buffer food grain stock of 50 million
tonnes that is good to last demand for 13 months.
To ensure that no one goes hungry, he said the government
is working to bring a food security law that provides for
supply of 25 kg of rice or wheat at Rs 3 a kg to families
living below poverty line.
He appealed "to all state governments to exercise their
statutory powers to prevent hoarding and black marketing of
essential commodities."
Singh's warning to black marketeers comes in the wake of
a sharp rise in prices of pulses, sugar and other edibles.
Prices of lentils, especially toor dal, have spiralled up
from Rs 60 a kg in June to Rs 90 a kg now, partly driven by
speculation after monsoon this season brought 19 per cent less
rainfall than usual.
He said there was a need for a second 'Green Revolution'
to achieve the targeted four per cent growth in farm
production which was "achievable" in the next five years.
To mitigate farmers' miseries, he said loan repayment has
been postponed by six months till December 31, this year.
"Our scientists must devise new techniques to increase
the productivity of our small and marginal farmers," the Prime
Minister said, adding that the country needs to pay more
attention to those farmers who do not have means for
irrigation.
Nearly 66 per cent of India's cultivable land depends on
rainfall, while only 34 per cent is irrigated.
He also said more efforts are required to improve
physical infrastructure.
The government, he said, has initiated programmes to
construct 20 km of national highways every day. Similarly,
railways have started work on the dedicated freight corridors.
Singh also said that scope of the National Rural
Employment Guarantee Programme, which provides for 100 days
assured job to every poor-rural household, would be expanded
to take new types of works.
Referring to Bharat Nirman programme, he said: "We will
set more ambitious targets for schemes for house construction
and telecommunications in rural areas."
"We are giving careful attention to the problems of Air
India and will resolve them soon," Singh said, touching upon
the ailing aviation sector, especially the national carrier.
The Civil Aviation Ministry had recently made a
presentation before the Union Cabinet on the plight of the
sector and need for equity infusion in the national carrier
Air India. PTI
