India is to introduce one of the largest welfare schemes in the world

[Awesome]

It was a stupid move - criminal even.

This issue will cost them the elections.

India Rupee posted its biggest percentage fall in 18 years as everyone's confidence was shaken on the announcement of this move.

A lot of NRIs have gone from rich to medium class overnight, they had been banking on the Rupee to return to the 2009 levels and had been pumping in Forex to India in hopes they'd come out richer have actually lost as much as the INR has.

I think NRIs are the only ones trying to save the Indian economy. From Dubai there is an influx of vacations being taken to India, people are buying more and more Indian products, but when they see such practices being done back in India how long will they throw their hard earned money for patriotism?

 

[liall]

It was a stupid move - criminal even.

This issue will cost them the elections.

India Rupee posted its biggest percentage fall in 18 years as everyone's confidence was shaken on the announcement of this move.

A lot of NRIs have gone from rich to medium class overnight, they had been banking on the Rupee to return to the 2009 levels and had been pumping in Forex to India in hopes they'd come out richer have actually lost as much as the INR has.

I think NRIs are the only ones trying to save the Indian economy. From Dubai there is an influx of vacations being taken to India, people are buying more and more Indian products, but when they see such practices being done back in India how long will they throw their hard earned money for patriotism?

wHO KNOWS? wITH Every passing year the economy is supposed to improve lives to become better and currency should appreciate. We are following China and their currency is appreciating where as look at us. Need to look at what they are doing better which we are not. The obvious answer is manufacturing and exports. Does not look good to me in the future as government do not give two hoots about people in India

 

[Juice]

Good, take care of your own. The US could learn from this.

 

[Awesome]

wHO KNOWS? wITH Every passing year the economy is supposed to improve lives to become better and currency should appreciate. We are following China and their currency is appreciating where as look at us. Need to look at what they are doing better which we are not. The obvious answer is manufacturing and exports. Does not look good to me in the future as government do not give two hoots about people in India

Pakistan and India's economy are made by the same kind of people, the corrupt, the incompetent. The only advantage India has is that terrorism isn't even 1/10th of what it is in Pakistan and hence there is some investment.

India thought it could rely solely on investment alone. The issue with investment is that, you have to utilize that investment to make more money than was invested, since you also have to pay back the investors. India's people in charge keep spending the investment in non-profitable ventures... and paying off the investors. The money has to come from somewhere and hence India's economy is losing money.

Foreign Investors by definition will take away more money than they put in. Always remember that.

I agree with the sentiment that exports is one area that can offset the imbalance but in the immediate government spending has to be reduced and belts tightened, India has to go through a slump period in order to avoid further digging itself in a hole.

 

[mikkix]

India is to introduce one of the largest welfare schemes in the world after its Food Security Bill was passed by parliament.

Two-thirds of India’s 1.2 billion population, about 800 million people, will be guaranteed subsidised food under the scheme.

It will cover 75% of the estimated 833 million rural population and 50% of the 377 million urban poor.

The scheme guarantees 5kg of rice, wheat and coarse cereals at a fixed price of three, two and one rupees per person every month.

It also allows pregnant women and new mothers to get free meals for six months, along with children between six months and six years.

The government promised to bring in the changes when it came back to power for the second successive time in 2009.

Senior Minister Shashi Tharoor told Sky News: "It's a question of national priorities, our party (Congress) believes very strongly that the basic cause of a lot of fundamental problems for the poor in India is food and security.

INDIA-POLITICS-FOOD SCHEME
The scheme was spearheaded by Congress leader Sonia Ganghi (second right)
"In the West food occupies probably 10-15% of the monthly expenses; there are poor people for whom food in our country would be 90% of their expenses.

"Often if they have to economise on something it's food that they skim on."

Critics of the scheme have said the food subsidy will be an extra burden on an already sagging economy.

They say it will cost the exchequer up to £15.8bn a year.

Growth for 2013 has been scaled down to five per cent, which is the lowest in the last 10 years.

With additional expenditure the government would be unable to bring down the fiscal deficit from an uncomfortable 5.5%.

The food subsidies will be rolled out through the Public Distribution System (PDS), which is riddled with irregularities and corruption.

Indian ruling parliamentarian Sashi Thar
Minister Shashi Tharoor admits the scheme will help his party in elections
Reports have estimated that 37% to 55% of subsidised rice and wheat are syphoned off and sold on the black markets.

In addition, almost 10% of the food rots in warehouses before it is distributed.

Farming bodies also oppose the legislation as they believe the government will become the largest buyer, hoarder and seller of food grains.

They say it is akin to nationalisation of agriculture and that their bargaining power will be further reduced.

Although no major party is opposing such a populist scheme, there are objections to its timing.

Indian general elections are less than a year away and some crucial states go to the polls in the next few months.

Minister Shashi Tharoor has dismissed opposition claims.

He said: "Find me one government which does not want to be re-elected, I’ll be very interested to meet them.

"Obviously every government is attempting to do things which will ensure its re-election.

"We have done a number of things from bringing in the Right to Information Act and the Rural Employment Guarantee Act that were brought in well before the elections came around."

The Food Security Bill will undoubtedly be the centrepiece of the ruling Congress party’s plan to win another term in the elections, due in May.

According to a UN report, India is home to a quarter of the world's hungry poor, despite being one of the world's largest food producers.

Malnourishment and chronic undernourishment are a major problem in the country.

India has the largest number of malnourished children in the world - even higher than Sub-Saharan Africa.


The bolded says it all, 5 years and now this.
Election stunt...

 

[arushbhai]

Oh come on guys, dont be so negative. Its a good initiative by the government. You all have to play your role. Government is providing food to the needy, but your role is to make sure the system doesnt get abused. If you see someone abusing it, its better to report it than get mad over it. Everyone must play their part.

 

[Spring Onion]

It also allows pregnant women and new mothers to get free meals for six months, along with children between six months and six years.

Source: http://www.defence.pk/forums/social...gest-welfare-schemes-world.html#ixzz2dFC7xxYe


Good luck.

Some good points too.

 

[chhota bheem]

It also allows pregnant women and new mothers to get free meals for six months, along with children between six months and six years.

Source: http://www.defence.pk/forums/social...gest-welfare-schemes-world.html#ixzz2dFC7xxYe


Good luck.

Some good points too.

the welfare scheme is a good thing with an evil intention and at a bad time.

 

[Sashan]

Sharp decline in investment climate coupled with the socialist welfare policies - RTE, NREGA, FSB has been turning India from a confident vibrant nation back to Roti, Kapadan aur Makhaan nation. - on one side the poverty numbers were published to show that the number of poor were coming down and another side want to provide welfare to 2/3rds of the population.


But personally for NRIs, it is an opportunity now though they would not be so confident about sending money now even with the declining rupees and would be wanting to play the wait and watch game.

 

[bronxbull]

As an NRI,i feel funding the govt with dollars is worthless as it is not going to help the indian people.

I would rather try to get Indian people jobs outside India.

 

[Arav_Rana]

@iajdani - as gslv said how much we spend on poverty.
See brother, defence is different think. We have faced many war. You said don't buy weapons, but these same weapom helped you in 1971.
We share border with many countries and some of them are always wish death to Indian. Defence is our need but we are not doing it by neglecting our other needs.
Government sell cheaper food items (rice,wheat, etc) at very cheaper rate, like rice and wheat around 3-5 rupee. But these are for low income or poor people, not for every one. Government buys at good price and sell it to poor.(but more then 60% stock for poor people goes in black market )
any society , 100% never get benfit. Even you can never do for 100% society people. Every society is made of many level, like rich, middle class. Low middle class and Poor etc. And every level tries to go up. And how can they go up ? By education and job.
Here system has increase the education price , and they are not monitoring it well. And in job case, they are not doing much. Here every 2nd or 3rd month we have scam, which is not in crorer or hundreds crores. It always come in thousands crore and in lac crores. :-D

 

[nair]

I am sure this wont help INC this time.... Last time their political stunt worked....

 

[Star Wars]

I am sure this wont help INC this time.... Last time their political stunt worked....

not really..last time they got most of their votes from the Urban areas ...

 

[TopCat]

@iajdani - as gslv said how much we spend on poverty.
See brother, defence is different think. We have faced many war. You said don't buy weapons, but these same weapom helped you in 1971.
We share border with many countries and some of them are always wish death to Indian. Defence is our need but we are not doing it by neglecting our other needs.
Government sell cheaper food items (rice,wheat, etc) at very cheaper rate, like rice and wheat around 3-5 rupee. But these are for low income or poor people, not for every one. Government buys at good price and sell it to poor.(but more then 60% stock for poor people goes in black market )
any society , 100% never get benfit. Even you can never do for 100% society people. Every society is made of many level, like rich, middle class. Low middle class and Poor etc. And every level tries to go up. And how can they go up ? By education and job.
Here system has increase the education price , and they are not monitoring it well. And in job case, they are not doing much. Here every 2nd or 3rd month we have scam, which is not in crorer or hundreds crores. It always come in thousands crore and in lac crores. :-D

Yes I agree with you with some difference.

I believe India is over extending the handouts when 70% of the people are given 3-5/kg rice. Yet you still need social safety net to protect the marginalized people who failed to earn their end meal, and in economy like India the number of them are too many. So you have to be selective and supportive. Even the country like America still maintains food stamp and they had been doing it since for ever.

I am not sure if BD example is relevant here but our social safety net scheme earned a lot of admiration from all political and civil society segment of the society. Even IMF and World Bank support the scheme. In our scheme we do Food for Work, Elderly Allowance, Widow Allowance, Disability allowance, School attendance allowance etc and had a good positive impact. There is not much allegation of corruption in this scheme and mostly distributed through local elected bodies.

 

[lightoftruth]

Firstly its not a scheme but a "law" ,it was needed as ppl will be able to demand what they deserve rather being clueless.If PDS was implemented correctly their might not be any need to do it.

except AIADMK no one opposed it ,it shows that it was needed and was accepted beyond party lines .

rupee devaluation wrt to $ has more to do with investment moving from everywhere around the world to us and our more than necessary dependence on it.