The article is very informative
and a very good food for thought and serious action. The economy suffers in
several ways for lack of imaginative thinking, planning and result oriented
action. The food credit estimated at between Rs 70000 and Rs90000 crores
is nothing but a Non performing Asset of highest order which the economy cannot
and should not bear. If these NPAs are added to the other NPAs of banks the amount would be staggering and it would not be an exaggeration to say that the amount would be sufficient to wipe out the entire fiscal deficit. Further, if these npas are made to perform, the economy
will shine and the ills of the economy will vanish. The waste of food grains lying accumulated
is neither justifiable nor tolerable when many a people in the country are
starving. The Govt should either have an
efficient distribution system without leakage and corruption or export the food grains at the optimum price possible and introduce
cash transfer or Coupon system to the poorest of the poor. Govt can involve
some social workers or NGOs or SHGs or Banking Correspondents to carry out the
distribution of grains or cash with proper checks and balances to eliminate
corruption. The country has the best of talents and good human beings who care
for the welfare of the poor and the economy. Leaving every thing only to bureaucrats and politicians will only
add to the woes of the economy and the problems of plenty of food grains vs
starvation, fiscal deficit, current account deficit, staggering NPAs with
adverse consequences will remain for ever for politicians to exploit the
situation in their own way.
Dr.T.V.Gopalakrishnan
(This is in response to an article How to reduce our rotting mountains of grain appeared in ET and Times of India dated 9/6/11)
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