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The government on Tuesday proposed a <keyword id="20789519" type="General" weightage="20" keywordseo="transit-oriented-development" source="keywords">transit-oriented development</keyword> plan for 14 large cities with a population of over 30 lakh in its budget for 2024-25 and said it will formulate a framework for the creative redevelopment of cities. Presenting the Budget in the Lok Sabha, Finance Minister <keyword id="19916618" type="General" weightage="20" keywordseo="nirmala-sitharaman" source="keywords">Nirmala Sitharaman</keyword> underscored that the Union government will work with states to facilitate the development of cities as "growth hubs". "This will be achieved through economic and transit planning, and orderly development of peri-urban areas utilising <keyword id="22517779" type="General" weightage="20" keywordseo="town-planning-schemes" source="keywords">town planning schemes</keyword>", the minister said. "Transit-oriented development plans for 14 large cities with a population above 30 lakh will be formulated, along with an implementation and financing strategy," Sitharaman said in her budget speech. The minister also announced Central assistance of Rs 2.2 lakh crore for <keyword id="20957520" type="General" weightage="20" keywordseo="urban-housing" source="keywords">urban housing</keyword> over the next five years as well as an <keyword id="22517780" type="General" weightage="20" keywordseo="interest-subsidy-scheme" source="keywords">interest subsidy scheme</keyword> to facilitate loans at affordable rates for urban housing works. She said the Central government will put in place measures for an efficient and transparent <keyword id="20071228" type="General" weightage="20" keywordseo="rental-housing" source="keywords">rental housing</keyword> market with enhanced availability. The minister proposed a scheme to support the development of 100 weekly haats or street food hubs in select cities. Sitharaman added that rental housing with dormitory type accommodation for industrial workers will be facilitated in PPP (public-private partnership) mode with VGF (viability gap funding) support and commitment from anchor industries." Enabling policies and regulations for efficient and transparent rental housing markets with enhanced availability will also be put in place, she said. About <keyword id="19939560" type="General" weightage="20" keywordseo="water-supply" source="keywords">water supply</keyword> and <keyword id="20082835" type="General" weightage="20" keywordseo="sanitation" source="keywords">sanitation</keyword>, the minister announced that the Centre in partnership with state governments and multilateral development banks will promote water supply, sewage treatment and <keyword id="19973309" type="General" weightage="20" keywordseo="solid-waste-management" source="keywords">solid waste management</keyword> projects and services for 100 large cities through bankable projects. According to her, these projects will also envisage use of treated water for irrigation and filling up of tanks in nearby areas. The minister stressed that the Central government will encourage states, which continue to charge high stamp duty, to moderate the rates for all, and also consider further lowering duties for properties purchased by women. This reform will be made an essential component of urban development schemes, she added.

Budget 2024-25: Govt announces transit-oriented development plan for large cities

The pre-budget <keyword id="20613906" type="General" weightage="20" keywordseo="Economic-Survey" source="keywords" meta.keywordsubtype="org" meta.entityname="Economic Survey" meta.hostid="261" meta.entityid="Economic Survey">Economic Survey</keyword> on Monday called for urgent reforms in India's <keyword id="19915424" type="General" weightage="20" keywordseo="agricultural-sector" source="keywords">agricultural sector</keyword>, warning that the structural issues could impede the country's overall <keyword id="19900794" type="General" weightage="20" keywordseo="economic-growth" source="keywords">economic growth</keyword> trajectory. The survey, tabled in Parliament by Finance Minister <keyword id="19916618" type="General" weightage="20" keywordseo="nirmala-sitharaman" source="keywords">Nirmala Sitharaman</keyword>, highlighted the untapped potential of the <keyword id="20682012" type="General" weightage="20" keywordseo="Indian-agriculture" source="keywords">Indian agriculture</keyword> sector compared to other economies. Chief Economic Advisor V Anantha Nageswaran called for a pan-India dialogue on the agriculture sector. The survey, presented ahead of the annual budget, emphasised that India has yet to fully leverage its agricultural sector for economic growth and job creation, unlike East Asian economies and Western developed nations. "Indian agriculture is not in a crisis now but requires a serious <keyword id="20544318" type="General" weightage="20" keywordseo="structural-transformation" source="keywords">structural transformation</keyword> because climate change and water criticality loom large in the times to come," the survey stated. The CEA advocated for a reassessment of existing policies, despite current government subsidies and support measures for farmers. "The payoff will be immense if we untie the knots that bedevil farm sector policies," Nageswaran said in the survey's preface. While the government provides substantial support to farmers through subsidies on water, electricity, and fertilizers, along with income tax exemptions and minimum support prices, there is room for improvement in policy implementation, he added. The survey identified several key challenges, including balancing growth with food inflation management, improving price discovery, and addressing land fragmentation. To address these challenges, the survey recommends multi-pronged reforms, which include: upgrading agricultural technology, enhancing marketing avenues, adopting farming innovations, reducing input wastage, and improving the agriculture-industry linkages. The document stressed the need to shift focus from basic <keyword id="19992806" type="General" weightage="20" keywordseo="food-security" source="keywords">food security</keyword> to nutritional security, aligning with a 'demand-driven food system' that is both nutritious and environmentally sustainable. The survey suggested that policymakers must strike a delicate balance between incentivizing farmers to increase production and keeping food prices within acceptable limits. "This dual objective requires careful policy interventions." The survey also emphasized the need for a farmer-friendly policy framework to ensure markets function in farmers' interests. It recommended avoiding bans on futures or options markets at the first sign of price spikes; invoking bans only under exceptional circumstances; re-examining the inflation-targeting framework; increasing the total net irrigated area, and aligning farming practices with <keyword id="22505922" type="General" weightage="20" keywordseo="climate-considerations" source="keywords">climate considerations</keyword>. Looking ahead to 2047, the survey highlighted the potential of agriculture and allied sectors (horticulture, livestock, fisheries, dairy, and food processing) for sustained <keyword id="20268655" type="General" weightage="20" keywordseo="employment-generation" source="keywords">employment generation</keyword>. "To sustain growth for nearly a generation up to 2047 or more and to ensure that it makes people's lives better and fulfills their aspirations, bottom-up reforms are necessary," it noted. It suggested that India may need to reconsider the traditional development model of transitioning from agriculture to industry and services.

Economic Survey calls for urgent agricultural reforms; cites growth hurdles

<ul><li>The <keyword id="6354672" type="ORGANIZATION" weightage="20" keywordseo="food-corporation-of-india">Food Corporation of India</keyword> (FCI) funds its loss on account of <keyword id="146885" type="PERSON" weightage="20" keywordseo="food-subsidy">food subsidy</keyword>, with loans from the National Small Savings Fund, which is the money owed to the country’s small depositors.</li><li>The debt is accounted as one owed by FCI, and not the government, even though FCI is fully owned by the government.</li><li>This is one of the many ways in which India’s Finance Ministers have hid the real state of the country’s finances for years.</li><li>However, Sitharaman has put a stop to this practice. “We have explained everything and we have not brushed anything under the carpet,” Sitharaman said. </li></ul>The year of 2020 has tempered expectations so much that the Finance Minister is not hiding the bad news. She pegged the fiscal deficit at 9.5% of gross domestic product (GDP) for the coming year⁠— that’s how much India will fall short of revenue as opposed to increased expenditure. For Aditi Nayar, principal economist at ratings agency ICRA, this would have come as a shock. She had estimated the deficit of 7.5% for the current financial year. Any other year, it would have created a furore but not this year. Not this time. Sensex has seen its best Budget day, with a 2,300 point rally, since 1997. <div type="ExtQuote" text="The entire slippage on revenue expenditure is due to food subsidy, which leads to much cleaner accounting." auname="Nair said in a conversation with Business Insider"></div> So what did Sitharaman clean up? <cmsannotation type="cmsannotation" annotationid="A government loan is a government loan. No matter which department takes it." comment="subhead" text="A government loan is a government loan. No matter which department takes it.">A government loan is a government loan. No matter which department takes it.</cmsannotation> The Food Corporation of India (FCI) sells food grains to ration card holders at a nominal price that is much lower than what it pays the farmers. FCI funds this loss it incurs, on account of food subsidy, with loans from the National Small Savings Fund, which is the money owed to the country’s small depositors. The debt is accounted as one owed by FCI, and not the government, even though FCI is fully owned by the government. This is one of the many ways in which India’s Finance Ministers have hid the real state of the country’s finances, for years. <div type="image" title="Kats1" msid="80633177" hostid="261"></div> However, Sitharaman has put a stop to this practice. “We have explained everything and we have not brushed anything under the carpet,” Sitharaman said. She became the first Finance Minister to disclose the loans that the government gives the FCI. <cmsannotation type="cmsannotation" annotationid="Food subsidy bill swells after One Nation One Ration Card scheme" comment="subhead" text="Food subsidy bill swells after One Nation One Ration Card scheme">Food subsidy bill swells after One Nation One Ration Card scheme</cmsannotation> In the last few years, the unpaid amounts to FCI also swelled so much that it became impossible to hide and roll over to the next year. In the year 2018-19 of Modi’s first term, the underpaid food <a href="https://www.livemint.com/news/india/govt-underpaid-food-subsidy-bill-by-69-394-crore-in-fy19-1559761101903.html">subsidy bill to FCI </a>swelled by 41% of the Budget estimate, to ₹69,394 crore. After the Covid-19 pandemic, when the government supplied food grains to lockdown affected people for three months free-of-cost, the bill would have touched astronomical limits. Added to that, the government also undertook a progressive move of One Nation, One Ration Card, the number of people who can and will collect the subsidy will also go up. In Sitharaman’s own words, this scheme has reached 690 million beneficiaries and counting. Whether it’s good, bad or ugly, knowing that the real numbers are out there is reassuring. SEE ALSO: <a href="https://www.businessinsider.in/budget/news/all-things-fintech-in-nirmala-sitharamans-budget-2021/slidelist/80632926.cms" data-type="tilCustomLink">All things Fintech in Nirmala Sitharaman’s Budget 2021</a> <a href="https://www.businessinsider.in/business/auto/news/fm-nirmala-sitharaman-announced-the-vehicle-scrappage-policy-to-phase-out-6-8-million-old-and-unfit-vehicles/articleshow/80632143.cms" data-type="tilCustomLink">Budget 2021 will push 6.8 million vehicles to fitness tests, possible scrappage</a> <a href="https://www.businessinsider.in/stock-market/news/a-quick-look-at-how-sensex-performed-historically-for-a-month-post-the-budget-announcement/slidelist/80612177.cms" data-type="tilCustomLink">Sensex, Nifty rally 5 percent to clock in the best Budget day since 1997</a>

Sitharaman becomes the first Finance Minister to come clean on food subsidy⁠— a loophole that hid billions of dollars earlier

As a child, I was excited when Sunday rolled around. After playing in the scorching heat all day, my friends and I would cool off with a chilled glass bottle of Coca-Cola. It was the one day of the week I was allowed to have it.I quit my <a target="_blank" href="https://www.businessinsider.com/drinking-juice-and-soda-linked-to-cancer-study-2019-7">soda</a> habit a few years ago to be healthier. But recently I decided to treat myself to a chilled can of Coke, in a small attempt to recapture the joy of those hot summer days.But the Coke didn't taste as good as it used to — and it left a weird aftertaste. I thought there might be something wrong with the can, or perhaps my rosy childhood memories clouded my judgment. But as I indulged my urge, I found the same thing. Even Coke-drinking friends I spoke to agreed: The taste had changed.It wasn't just Coke; other foods from my childhood taste different now. The Dairy Milk chocolate bars I used to enjoy after school aren't as creamy and taste too sweet. Lay's potato chips don't pack the same flavor punch they used to. A<a target="_blank" href="https://old.reddit.com/r/AskReddit/comments/bps0az/what_food_used_to_be_good_but_they_changed_the/"> stroll through Reddit</a> shows I'm not alone: Thousands of people have noticed the quality of their favorite snacks getting worse."Ritz crackers. For some inexplicable reason, maybe around 5 years ago the crackers went from being nice and firm and dippable to nowadays easily crumbling to bits with even the lightest dip,"<a target="_blank" href="https://old.reddit.com/r/AskReddit/comments/bps0az/what_food_used_to_be_good_but_they_changed_the/enwz90v/"> one user complained</a> a few years ago."You could bite into a Twix and feel your teeth travel through a heavy layer of caramel," another Redditor <a target="_blank" href="https://old.reddit.com/r/AskReddit/comments/bps0az/what_food_used_to_be_good_but_they_changed_the/enypxfk/">lamented</a>, adding, "Now they snap in half and taste like a sugar cookie with some chocolate on it.""Breyers used to be the best for store-bought ice-cream, but now it's just a crappy mess," <a target="_blank" href="https://old.reddit.com/r/AskReddit/comments/bps0az/what_food_used_to_be_good_but_they_changed_the/enwwjfc/">a third said</a>.People aren't imagining these changes — manufacturers are quietly modifying their recipes to save money and maintain their profit margins. The phenomenon, which has been called "skimpflation" and "flavorflation," is a way to <a target="_blank" href="https://www.businessinsider.com/why-prices-inflation-soaring-corporate-greed-profits-margins-wages-jobs-2023-4">hide the impact of inflation</a> and avoid passing higher costs on to the consumer. But by replacing expensive ingredients with cheaper ones, companies are also making food less tasty, less healthy, and less satisfying.<h2>When costs go up, companies skimp on ingredients</h2>For the most part, companies aren't required to announce when they change their recipes, so it can be hard to tell when the snacks you enjoy undergo a transformation. Fortunately, journalists and observant consumers have uncovered enough pieces of the puzzle to get an idea of what's happening.In a notable example, last year the food-processing giant Conagra reduced the vegetable-oil content in its Smart Balance margarine to 39% from 64%, replacing the rest with water. The company didn't broadcast this shift, but consumers were furious when they noticed the change in flavor. After getting almost 1,000 one-star reviews on its website, <a target="_blank" href="https://www.businessinsider.com/smart-balance-is-undoing-formula-changes-after-customer-anger-2022-10">Conagra promised to bring back the old formula</a>.But this sort of mass movement is an exception to the rule. Companies have for years skimped on ingredients, and leaving a bad review is unlikely to turn the tides. In 2013, <a target="_blank" href="https://www.cbsnews.com/pittsburgh/news/is-your-favorite-ice-cream-posing-as-something-else/">Breyers reduced the amount of dairy fat</a> in its ice cream by enough that it no longer legally qualified as ice cream; the company had to relabel its products "frozen dairy desserts." While it denied changing the recipe for cost reasons, a competitor that made a similar change said it was to cut production costs. Reports have described chocolate manufacturers <a target="_blank" href="https://www.reuters.com/article/uk-asia-cocoa-substitute-idUKKBN0H00CB20140905/">replacing cocoa butter</a> with palm oil or sunflower oil, causing chocolate lovers to complain about "<a target="_blank" href="https://abcnews.go.com/Business/IndustryInfo/story?id=5689239&amp;page=1">waxy and artificial</a>" texture. Ferrero angered fans in 2017 by <a target="_blank" href="https://time.com/5016830/nutella-recipe-change/">reducing the amount of cocoa in Nutella</a>. Even <a target="_blank" href="https://www.motherjones.com/food/2019/07/the-secret-history-of-why-soda-companies-switched-from-sugar-to-high-fructose-corn-syrup/">Coke's formula has changed</a>: By 1984, the company had replaced sugar with high-fructose corn syrup. Import restrictions on sugar and government subsidies on corn had made sugar far pricier than corn products. These sudden replacements seem to have picked up in recent years, as disruptions caused by the pandemic caused the cost of ingredients to spike. For instance, this year Conagra again changed one of its recipes: It reduced fat content in its Wish-Bone House Italian salad dressing by 10%, replacing oil with water and more salt. And journalists at The Guardian recently compiled a list of <a target="_blank" href="https://www.theguardian.com/money/2023/jul/22/uk-supermarkets-skimpflation-prices-pack-sizes">companies reducing the amounts of key ingredients in their products</a> — avocado in guacamole, egg in mayonnaise, and olive oil in various spreads.Over-the-counter medicines aren't exempt either. Edgar Dworsky, a lawyer and consumer advocate, has compiled examples of changed recipes like a <a target="_blank" href="https://www.mouseprint.org/2022/12/19/skimpflation-cough-syrup-strength-cut-in-half/">cough syrup</a> that contained half as much of its active ingredient as it did six years ago. One <a target="_blank" href="https://www.mouseprint.org/2022/12/05/act-mouthwash-now-with-less-fluoride/">brand of mouthwash</a>, meanwhile, had half as much sodium fluoride in its bottles in 2022 as it had the previous year. To get the same effects of these products, you'd have to read the fine print and double your dosage.<h2>The complicated math of skimpflation</h2>While it's tempting to blame corporate greed for cutting corners and making products worse, the blame for skimpflation doesn't rest solely on the shoulders of foodmakers — factors like inflation can play a role. After all, by changing their recipes, companies risk losing their customers to competitors. So when the cost of ingredients goes up, the decision to adjust the makeup of a snack is ultimately a calculus of what consumers will be more willing to accept: higher prices or a different flavor.Dennis Neveling, a research analyst at Lazard Asset Management, <a target="_blank" href="https://www.lazardassetmanagement.com/us/en_us/references/fundamental-focus/consumer-packaged-goods">explained in a post</a> that when the cost of goods like sugar, cocoa, and other ingredients goes up, companies can't simply raise prices to cover the costs. When the price of a product suddenly jumps, consumers tend to opt for a cheaper version of the product or go to another store to try to find a better deal. Many grocery stores and retailers worried about customers moving to discount chains will put pressure on manufacturers to keep prices low by threatening to delist their products and not display them on shelves. This two-pronged push, Neveling said, meant firms passed only about 10% to 15% of increased costs to consumers via higher prices. He said that figure was at a multi-decade high, meaning companies usually absorb even more of the inflation. Since they can't raise prices too much, foodmakers have to find other ways to stay profitable. This usually means cutting costs, which includes modifying their products to use cheaper ingredients.<a target="_blank" href="https://www.tastingtable.com/929605/new-study-shows-inflation-is-forcing-brands-to-change-their-recipes/"> A 2022 survey by TraceGains</a>, a company that helps manufacturers procure ingredients, found that of more than 300 food and beverage brands, 37% had changed the recipes of more than 20 products since 2020, while another 25% had changed between six and 20 recipes. Ninety percent of the respondents blamed inflation for these changes.These adjustments often fly under the radar, making them more attractive to foodmakers than higher sticker prices. It's much easier for a consumer to register a sudden $1 increase in the price of a pint of ice cream than to discern a 10% cut in the amount of milk fat used. But people have noticed that their favorite snacks taste worse.<h2>Hidden health impact</h2>In addition to the taste degradation, recipe tweaks made by large companies are often worse for our health. A common change is to replace cane sugar with artificial sweeteners. Since these are significantly sweeter than sugar, companies need to use far less to achieve the same level of sweetness. They also allow companies to market their products as "healthier" since they have fewer calories. But research has found that <a target="_blank" href="https://health.clevelandclinic.org/whats-worse-sugar-or-artificial-sweetener/">artificial sweeteners are far worse</a> for us than sugar. The extra sweetness makes them more addictive, which may cause people to eat more and <a target="_blank" href="https://www.scientificamerican.com/article/how-artificial-sweeteners-may-cause-us-to-eat-more/">gain weight</a>.This year the World Health Organization <a target="_blank" href="https://www.healthline.com/health-news/who-says-aspartame-may-cause-cancer-what-experts-want-you-to-know">classified aspartame</a>, a popular artificial sweetener used in things like ice cream, breakfast cereal, and soda, as a possible carcinogen, meaning it could cause cancer. In another scientific review, the <a target="_blank" href="https://www.nytimes.com/2023/05/15/well/eat/sweeteners-weight-loss-who.html">WHO linked artificial sweeteners</a> to a higher risk of type 2 diabetes, heart diseases, and mortality in adults. High-fructose corn syrup, another sugar substitute, is cheaper than sugar, but studies have linked it to <a target="_blank" href="https://pubmed.ncbi.nlm.nih.gov/20424937/">metabolic syndrome</a>, a cluster of conditions that increase the risk of heart disease, stroke, and diabetes.<a target="_blank" href="https://www.ingredientinspector.org/home/pearl-milling-syrup-ingredients">Pearl Milling Company maple syrup</a> — which, under the name Aunt Jemima, used to contain sugar, maple syrup, food coloring, and potassium sorbate, a generally harmless preservative — contains no maple syrup. Instead, it contains high-fructose corn syrup and a bunch of chemical preservatives and additives to keep it fresh. One of the preservatives is sodium benzoate, which can convert into benzene, a known carcinogen; this risk can increase over longer storage periods, the main purpose of using it as a preservative. To mimic the thickness of maple syrup, the manufacturer added sodium hexametaphosphate, which <a target="_blank" href="https://www.isitbadforyou.com/questions/is-sodium-hexametaphosphate-bad-for-you">has been linked to</a> severe skin irritation, kidney problems, and loss of calcium.Even minor changes like replacing oil with water can affect health, especially if you watch your diet closely and aren't aware that your favorite products have changed over the years.<h2>Hidden inflation</h2>The sneakiest aspect of skimpflation is that it hides the impact of rising costs. As inflation erodes people's purchasing power, they become more sensitive to price. Buying something affordable becomes more important than buying something that's high quality. Companies respond to this by changing their recipes to avoid charging more.But those changes aren't measured in inflation indicators. While inflation measures such as the consumer price index can make adjustments for directly measurable changes — a candy bar going from 2 ounces to 1.8 ounces, for instance — economists can't measure changes in the quality and taste of products. That means CPI data points don't take into account recipe changes or resulting long-term health risks, yet those changes represent a decline in quality of life. This becomes a problem for the Federal Reserve, which uses CPI and other data to set interest rates and manage the money supply in order to keep inflation down.This could be a reason consumers have such a different <a target="_blank" href="https://www.businessinsider.com/student-loans-housing-costs-chatgpt-why-americans-feel-bad-economy-2023-11">view of the economy</a> than economists do. It's difficult to quantify the feeling of paying more for worse products. But when influential measures ostensibly meant to gauge Americans' standard of living don't capture how our favorite foods are changing, we end up buying goods that are not only more expensive but less enjoyable.<a target="_blank" href="https://www.businessinsider.com/author/jairaj-devadiga">Jairaj Devadiga </a>is an economist specializing in public policy and economic history.

Giant food companies are quietly ruining your favorite snacks — and hoping you don't notice

<ul><li>The government will provide 5kg of food grains per person every month, under the programme.</li><li>The extension could impact the government's fiscal deficit target for FY24 say economists.</li><li>Free schemes can lead to competitive populism and pose risks to the economy, they claim. </li></ul>The government has decided to extend its free foodgrains programme for another five-years. Under the programme, the government will provide 5kg of food grains per person every month. This move, which was expected to be discontinued by the end of 2023, reflects the challenges of withdrawing populist policies, especially ahead of elections, claim economists. While the near-term macro implications are expected to be muted, there are concerns about the medium-term risks associated with the extension. According to <keyword id="6354527" type="General" weightage="80" keywordseo="nomura" source="Orion">Nomura</keyword>, food procurement cost of the government is expected to increase and so will the food subsidy bill, which has been coming down over the years. The extension of the free foodgrains programme is not expected to have a significant near-term impact. The scheme, which costs ₹2 trillion or 0.7% of GDP annually, is already part of the government's existing subsidised foodgrains programme. However, the extension could impact the government's fiscal deficit target for FY24, as higher revenue expenditure, including on rural employment guarantees, may strain the budget. Over the medium term, the extension of the free foodgrains programme raises concerns about the government's revenue and food subsidy bill. As the government forgoes revenues from its subsidised food sales, estimated to be around 0.05% of GDP annually, the procurement costs and food subsidy bill are likely to increase, says Nomura. While the need for subsidised grains for lower-income households is undeniable, the announcement of free schemes can lead to competitive populism and pose risks to the economy. The announcement by Prime Minister Modi extends the free foodgrains programme for the next five years, until December 2028. This programme allows eligible citizens to purchase 5kg of food grains per person per month at highly subsidised prices. During the pandemic, an additional 5kg of food grains were provided free of cost under the <keyword id="4015637" type="General" weightage="20" keywordseo="pradhan-mantri-garib" source="Orion">Pradhan Mantri Garib</keyword> Kalyan <keyword id="196713" type="General" weightage="80" keywordseo="anna-yojana" source="Orion">Anna Yojana</keyword> (PMGKAY). The recent announcement effectively cements this policy for the medium term. The extension of the free foodgrains programme can be attributed to political compulsions, particularly with upcoming elections. Populism has become a dominant theme, with promises of "freebies" from various political parties. The ruling <keyword id="58687" type="General" weightage="80" keywordseo="bharatiya-janata-party" source="Orion">Bharatiya Janata Party</keyword> (<keyword id="14666" type="General" weightage="80" keywordseo="bjp" source="Orion">BJP</keyword>) is also attempting to sound populist to counter its rivals. However, the unsustainability of the previous system, which led to high fiscal costs and complicated procurement, necessitated a change in approach. While the fiscal impact for the current year is manageable, the government will forgo revenues from subsidised food sales, and the food subsidy bill is likely to increase over time. However, the extension is not expected to have a significant inflationary impact, as the programme is unlikely to lead to enhanced stress on cereal stocks.

Government extends free food-grains programme for 5 years, raises medium-term risks

<ul class="summary-list"><li>The GOP's agriculture appropriations bill would mean major benefit cuts for WIC recipients.</li><li>Low-income parents and babies are eligible to receive the benefit, which subsidizes food and care.</li></ul>As the GOP eyes spending priorities, one program that provides access to nutritious food and health screenings for low-income parents and babies might see major cuts.Under the <a href="https://www.congress.gov/bill/118th-congress/house-bill/4368" target="_blank" rel="noopener">House GOP agriculture appropriations bill</a>, the Special Supplemental Nutrition Program for Women, Infants, and Children — known as WIC — would not be funded to the extent the program needs, according to the nonpartisan <a href="https://www.cbpp.org/research/food-assistance/hundreds-of-thousands-of-young-children-and-postpartum-adults-would-be" target="_blank" rel="noopener">Center on Budget and Policy Priorities</a>, potentially leading to hundreds of thousands of kids and postpartum parents getting turned away or cutting their food budgets.In total, according to CBPP's analysis, the $6 billion the GOP bill allocates to WIC would lead to 5.3 million children and pregnant, postpartum, or breastfeeding parents seeing their food assistance cut, or completely gone. Among them would be 650,000 to 750,000 babies and parents turned away from services completely. Per the USDA, 6,260,000 people participated in <a href="https://fns-prod.azureedge.us/sites/default/files/resource-files/wisummary-7.pdf" target="_blank" rel="noopener">WIC in fiscal year 2022</a>; as of <a href="https://fns-prod.azureedge.us/sites/default/files/resource-files/37wic-monthly-7.pdf" target="_blank" rel="noopener">April 2023</a>, there were over 6.6 million Americans participating, including nearly 1.5 million infants and 3.6 million children. To <a href="https://www.fns.usda.gov/wic/frequently-asked-questions" target="_blank" rel="noopener">qualify for WIC</a>, a family of two would have to make $36,482 or less annually.WIC is meant to, in part, help subsidize purchases of nutritious foods. Per the <a href="https://www.fns.usda.gov/wic/frequently-asked-questions" target="_blank" rel="noopener">program's website</a>, participants are able to use their benefits on groceries like baby food, eggs, and fruit and vegetables; participants are also able to use WIC benefits at some farmers' markets. But the proposed GOP funding levels for WIC would particularly slash access to fruit and vegetables, according to CBPP. If that bill is enacted, those participating in the program would get just $11 to $15 monthly to spend on fruits and vegetables — a cut of over 50%. That all comes as <a href="https://fred.stlouisfed.org/series/CUSR0000SAF11" target="_blank" rel="noopener">food prices stay high</a>, and in <a href="https://www.businessinsider.com/ftc-to-investigate-baby-formula-seller-price-gouge-scam-parents-2022-5">the wake of a baby formula shortage that left parents vulnerable to huge markups and price gouging</a>."The Administration is deeply concerned that the funding level provided in the bill for WIC would put the program at significant risk of being unable to serve all eligible women and children who seek assistance, which could result in waiting lists, greater hardship, and poorer health outcomes for this vulnerable population," the White House's Office of Budget Management said in a <a href="https://www.whitehouse.gov/wp-content/uploads/2023/07/SAP-H.R.-4368.pdf" target="_blank" rel="noopener">statement</a> on the appropriations bill. OMB said that were the president to receive the bill on his desk, he would veto it.As the <a href="https://www.washingtonpost.com/opinions/2023/07/27/farm-bill-house-gop-wic-children/?pwapi_token=eyJ0eXAiOiJKV1QiLCJhbGciOiJIUzI1NiJ9.eyJyZWFzb24iOiJnaWZ0IiwibmJmIjoxNjkwNDMwNDAwLCJpc3MiOiJzdWJzY3JpcHRpb25zIiwiZXhwIjoxNjkxODEyNzk5LCJpYXQiOjE2OTA0MzA0MDAsImp0aSI6IjFhNWFmMDhjLTk0YjItNGU1NC05ZjI1LTE1MzZmNWY4Mzk0MSIsInVybCI6Imh0dHBzOi8vd3d3Lndhc2hpbmd0b25wb3N0LmNvbS9vcGluaW9ucy8yMDIzLzA3LzI3L2Zhcm0tYmlsbC1ob3VzZS1nb3Atd2ljLWNoaWxkcmVuLyJ9.St1wn6pCz8MJixDJ5LknCA7N861HlC4eAKvHSeQka40" target="_blank" rel="noopener">Washington Post's Catherine Rampell notes</a>, WIC is a rare bipartisan program that both sides of the aisle have historically agreed to fund. The OMB said in its statement that it "urges the Congress to continue the long bipartisan agreement to provide enough funds for WIC to serve all eligible participants without harmful benefit cuts."The proposed cuts to WIC come after an already-precarious time for low-income Americans receiving food subsidies. Earlier this year, a <a href="https://www.businessinsider.com/millions-americans-will-lose-snap-benefits-groceries-march-2023-2">pandemic-era SNAP expansion abruptly wound down</a>, with millions of lower-income, elderly, and disabled Americans suddenly seeing their SNAP allocations fall by $258 monthly. "The truth of the matter is, and I hate to say this, but the poorer you are, the poorer you eat," Tonyia Canales, a disabled grandmother raising her grandson on her fixed income in Texas, <a href="https://www.businessinsider.com/millions-americans-hunger-cliff-snap-benefits-food-stamps-getting-cut-2023-2">previously told Insider</a> about her SNAP benefits falling to just $36 a month. "It was so nice to be able to go to the store and actually buy groceries," Canales said. "But now that that's over, we're going to have to go right back to where we were, which is struggling, and now it's going to be worse because the prices have all gone sky high."Are you a parent receiving WIC and considered about cuts? Contact this reporter at <a href="mailto:jkaplan@insider.com" target="_blank" rel="noopener">jkaplan@insider.com</a>.

Republicans want to cut food assistance for 5 million low-income babies and parents

<ul class="summary-list"><li><keyword id="6378093" type="UNKNOWN" weightage="60" keywordseo="mcdonalds">McDonald's</keyword> will no longer send <keyword id="83176" type="COMPANY" weightage="60" keywordseo="franchisees">franchisees</keyword> the $300 a month subsidy that was intended to keep Happy Meal costs lower. </li><li>As a result, franchisees told Business Insider that Happy Meal prices will likely rise in 2021. </li><li><a href="https://www.businessinsider.com/mcdonalds-franchisees-cost-changes-reigniting-tensions-2020-12">Franchisees are not happy about the change. </a></li><li>"COVID is surging, and they're worried about taking our Happy Meal subsidy?" a franchisee told Business Insider. "It's not something that families in America want. They want a value-priced Happy Meal." </li><li>McDonald's told Business Insider that franchisees have control over menu prices, and that it plans to financially support operators in other ways in 2021. </li></ul>McDonald's Happy Meal prices are likely to rise in 2021, as the fast-food giant ends a long-running subsidy. On Thursday, McDonald's officially announced internally that it was ending its roughly $300 per month Happy Meal subsidy, which has been around for decades. The subsidy, which added up to roughly $3,600 a year, will officially end on January 1, 2021. "We recognize this subsidy has been in place for many years," the company said in an internal memo viewed by Business Insider. "However, it is no longer fueling growth in the way it once was." Read more: <a href="https://www.businessinsider.com/mcdonalds-franchisees-cost-changes-reigniting-tensions-2020-12">'The ketchup has hit the fan': McDonald's makes changes to shift costs to franchisees, reigniting an internal battle at the fast-food giant</a>The change, along with other adjustments that will result in franchisees paying more in 2021, infuriated the operators that own roughly 95% of the McDonald's locations in the US. According to franchisees who spoke with Business Insider, the change will almost certainly result in more expensive Happy Meals. "COVID is surging, and they're worried about taking our Happy Meal subsidy?" a franchisee told Business Insider. "It's not something that families in America want. They want a value-priced Happy Meal." "I'm not going to eat" the cost of keep Happy Meal prices the same without a subsidy, another franchisee said. "If McDonald's doesn't want to eat it, why would I?" When asked for comment, McDonald's told Business Insider that franchisees are in charge of setting prices for menu items. McDonald's only controls the prices at 5% of its locations that are owned by the company in the US; 95% of locations are owned and operated by independent franchisees. <h2>The changes are sparking a battle within McDonald's </h2><div type="image" title="happy meal" height="1000" width="1333" msid="79573595" hostid="261"></div>The internal changes that were officially announced on Thursday have reignited tensions within McDonald's. "It is the proverbial straw that broke the camel's back," said a former McDonald's executive, who continues to work with franchisees and was on a call with more than 100 operators about the changes on Thursday. "At McDonald's, we call it - the ketchup has hit the fan." Recently, McDonald's franchisees and corporate leadership have been publicly unified. While other <keyword id="34615" type="ORGANIZATION" weightage="60" keywordseo="restaurants">restaurants</keyword> in the US have struggled during COVID, McDonald's has thrived, with US same-stores sales up 4.6% in the third quarter. Kalinowski Equity Research's most recent quarterly survey, released in October, found that McDonald's franchisees' optimism about the business was the highest it had been in years. Read more: <a href="https://www.businessinsider.com/mcdonalds-franchisees-thrive-in-pandemic-2020-10">McDonald's franchisees are more optimistic than they've been in years, as analysts predict 20% of independent restaurants will close across America</a>However, there has been bad blood between franchisees and corporate leadership at McDonald's in recent years.Franchisees founded their first independent organization, called the National Owners Association, in 2018 to push back against what they saw as corporate indifference to franchisees' interests. More recently, franchisees and corporate leadership clashed over the best way to deal with sales plummeting amid the pandemic in early April. Read more: <a href="https://www.businessinsider.com/mcdonalds-franchisees-traumatized-push-back-against-corporate-2020-4">'Traumatized' McDonald's franchisees face coronavirus sales slump, as some slam the company over 'anemic' response</a>McDonald's emphasized that it plans to invest in franchisees in other ways going forward. In Thursday's memo, the company said it is looking at options "such as making bold moves to support our restaurant employees." While it is killing the Happy Meal subsidy, McDonald's has made a number of financial investments to support franchisees in 2020, including a $100 million marketing investment. One such subsidy was related to the Travis Scott meal, which made the celebrity promotion more profitable for franchisees while keeping menu prices low.If you're a McDonald's employee or franchisee with a story to share, email ktaylor@businessinsider.com. <h2><a href="https://www.businessinsider.com/mcdonalds-franchisees-cost-changes-reigniting-tensions-2020-12">Read the full story about tensions between McDonald's franchisees and corporate leadership here. </a></h2>

McDonald's franchisees say Happy Meal prices will almost certainly increase in 2021, as the fast-food giant kills a subsidy that has been around for decades

<ul><li>Ownership of electric 2-wheelers can result in cost savings to the tune of 20-70% says a Red Seer report. </li><li>Battery performance, charging times, and range are challenges to adoption. </li><li>The government has been the fundamental enabler for the early adoption of EVs with FAME and PLI schemes. </li></ul>Electric 2-wheelers are set to grow at a rapid pace in India, thanks to their popularity among B2B players such as <keyword id="3000688" type="General" weightage="20" keywordseo="food-aggregators" source="Orion">food aggregators</keyword>, and last mile delivery services, according to a report by Redseer Strategy Consultants. Low cost of ownership is also a reason for B2B players to shift to electric vehicles. India is the largest two wheeler market in the world with an estimated 375-400 million two wheelers on the road. Since affordability is the biggest driver of 2-wheeler sales among customers, savings that are brought about by ownership of 2-wheelers are expected to drive growth. According to the report, ownership of electric 2-wheelers can result in anything from 20-70% in cost savings. <cmsannotation type="cmsannotation" annotationid="Going local" comment="subhead2" text="Going local">Going local</cmsannotation> Given the relatively lower barriers to entry, the <keyword id="3333089" type="General" weightage="100" keywordseo="electric-two-wheeler" source="Orion">electric two wheeler</keyword> market has seen hundreds of new players. Most of these players are ‘assemblers’ who import a significant portion of their components and even technology from China and other countries. Given the government’s push for indigenization and original equipment manufacturers or OEMs’ own need to protect from supply shocks, there is room to go for growth in localization too. The report also indicates that consumers will also reward the more integrated and sophisticated players. Not only will such OEMs be able to provide a more cost-effective product but also offer a superior experience that builds on in-house capabilities to improve and innovate, as per Red Seer. According to the PWC report, ‘Winning the EV race through localisation: An India perspective’, the regulatory push has helped initiate the journey towards EV localisation. This is especially true with electric 2-wheelers and manufacturers focusing on localisation to claim Faster Adoption and Manufacturing of Electric Vehicles (FAME)II benefits which provides a 40% subsidy to EV makers on the cost of the vehicles. Yet, there are challenges. Battery performance, charging times, and range remain the primary challenge for both existing electric 2-wheeler users and prospective buyers. While the range of most electric 2-wheelers exceeds the average distance travelled by over 90% of their consumers, ‘range anxiety’ still remains, Red Seer says. Reliable charging infrastructure is needed to build user confidence on electric 2-wheelers as a fully viable mode of transport. “Recent buyers of internal combustion engine (ICE) 2-wheelers have indicated that they will buy an electric 2-wheeler next time if more charging stations and fast charging are ubiquitous,” says Red Seer. The 4A’s: adaptability, awareness, availability, and affordability is a complete approach to persuade consumers to switch to electric 2-wheelers in the coming years. It’s however essential to add that the government has been the fundamental enabler for the early adoption of EVs with FAME and Production-Linked Incentive (PLI) schemes. The Red Seer report says that it’s crucial that the government continues incentivizing the switch to electric 2-wheelers to encourage consumers. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/adani-enterprises-sbi-life-hdfc-life-among-stocks-in-focus/articleshow/97567830.cms">Sensex, Nifty50 end lower due to sell off in metals, IT stocks</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/adani-transmission-reports-78-rise-in-q3-net-profit-to-475-crore-on-one-time-income/articleshow/97650165.cms">Adani Transmission reports 78% rise in Q3 net profit to ₹475 crore on one-time income</a>

Last mile deliveries, food aggregators to drive E2W growth says Redseer

The number of undernourished people in <keyword id="3658" type="General" weightage="100" keywordseo="india" source="Orion">India</keyword> has declined in the last 15 years to 224.3 million in 2019-2021, according to a UN report, which also said that there are more obese adults and anaemic women in the <keyword id="6354507" type="General" weightage="80" keywordseo="world" source="Orion">world</keyword>'s second most populous country. The <keyword id="5004571" type="General" weightage="50" keywordseo="state-of-food-security-and-nutrition" source="Orion">State of Food Security and Nutrition</keyword> in the World 2022 report, issued on Wednesday by UN agencies <keyword id="397960" type="General" weightage="50" keywordseo="food-and-agriculture-organisation" source="Orion">Food and Agriculture Organisation</keyword> (FAO), International Fund for Agricultural Development (IFAD), UNICEF, <keyword id="49053" type="General" weightage="50" keywordseo="world-food-programme" source="Orion">World Food Programme</keyword> (WFP) and the <keyword id="6356311" type="General" weightage="50" keywordseo="world-health-organisation" source="Orion">World Health Organisation</keyword> (WHO), said that the number of people affected by hunger globally rose to as many as 828 million in 2021, an increase of about 46 million since 2020 and 150 million since the outbreak of the COVID-19 pandemic. The report said that in India, the number of undernourished people declined to 224.3 million in 2019 21 from 247.8 million in 2004-06. It said that the number of children under 5 years of age who are stunted declined to 36.1 million in 2020 from 52.3 million in 2012, the number of children under five years of age who are overweight declined to 2.2 million in 2020 from three million in 2012. However, the number of obese adults in India, which has a population of over 1.38 billion, grew to 34.3 million in 2016 from 25.2 million in 2012 and the number of women aged 15 to 49 years affected by anaemia also grew to 187.3 million in 2019 from 171.5 million in 2012. The report added that the number of children up to 5 months of age exclusively breastfed touched 14 million in 2020 from 11.2 million in 2012. In percentage terms, the prevalence of undernourishment in the total population in India stood at 21.6 per cent in 2004-06 and declined to 16.3 per cent in 2019-21, the prevalence of stunting in children under 5 years of age declined to 30.9 per cent in 2020 from 41.7 per cent in 2012 and the prevalence of overweight children under five years of age was 1.9 per cent in 2020 from 2.4 per cent in 2012. The prevalence of obesity in India's adult population increased to 3.9 per cent in 2016 from 3.1 per cent in 2012 and anaemic women aged 15 to 49 years declined marginally from 53.2 per cent in 2012 to 53 per cent in 2019. The report also noted that in India, people who were unable to afford a healthy diet touched 973.3 million in 2020 or nearly 70.5 per cent, up from 948.6 million in 2019 (69.4 per cent). In 2017, about a billion people were unable to afford a healthy diet in India and this number has declined to 966.6 million in 2018. The report noted that subsidies to consumers provided in Lower- Income Countries and Middle-Income Countries most often take the form of in-kind or cash transfers under the social protection programmes. India and Indonesia, for example, provide substantial subsidies to final consumers under the Targeted Public Distribution System for grains in India, and the food assistance programme (BPNT) based on electronic vouchers for rice, in Indonesia, it said. The most prominent example of a (Lower-middle-income countries) LMIC is India, where the food and agricultural policy has historically focused on protecting consumers by ensuring affordable food prices, through export restrictions (on wheat, non-basmati rice, and milk, among others) and through marketing regulations around pricing and public procurement, public food stockholding and distribution of a vast range of agricultural commodities, it said. As such, farmers have constantly faced price disincentives in aggregate terms (negative NRPs). Input subsidies and expenditure on general services such as in R&amp;D and infrastructure have been widely used as a means of compensating them for the price disincentives generated by trade and market measures, and for boosting production and self-sufficiency in the country, it added. The report noted that after remaining relatively unchanged since 2015, the proportion of people affected by hunger jumped in 2020 and continued to rise in 2021, to 9.8 per cent of the world population. This compares with 8 per cent in 2019 and 9.3 per cent in 2020. World hunger rose in 2021, with around 2.3 billion people facing moderate or severe difficulty obtaining enough to eat -- and that was before the Ukraine war, which has sparked increases in the cost of grain, fertiliser and energy, according to the report. The State of Food Security and Nutrition in the World paints a grim picture, based on 2021 data, saying the statistics should dispel any lingering doubts that the world is moving backwards in its efforts to end hunger, food insecurity and malnutrition in all its forms , it explained. It warned that the ongoing war in Ukraine, is disrupting supply chains and further affecting prices of grain, fertiliser and energy resulting in more price increases in the first half of 2022. At the same time, they said, more frequent and extreme climate events are also disrupting supply chains, especially in low-income countries. Ukraine and Russia together produced almost a third of the world's wheat and barley and half of its sunflower oil, while Russia and its ally Belarus are the world's No. 2 and 3 producers of potash, a key ingredient of fertiliser. Nearly 924 million people (11.7 per cent of the global population) faced food insecurity at severe levels, an increase of 207 million in two years. The gender gap in food insecurity continued to rise in 2021 --- 31.9 per cent of women in the world were moderately or severely food insecure, compared to 27.6 per cent of men --- a gap of more than 4 percentage points, compared with 3 percentage points in 2020. Almost 3.1 billion people could not afford a healthy diet in 2020, up 112 million from 2019, reflecting the effects of inflation in consumer food prices stemming from the economic impacts of the COVID-19 pandemic and the measures put in place to contain it. An estimated 45 million children under the age of five were suffering from wasting, the deadliest form of malnutrition, which increases children's risk of death by up to 12 times. Furthermore, 149 million children under the age of five had stunted growth and development due to a chronic lack of essential nutrients in their diets, while 39 million were overweight. This report repeatedly highlights the intensification of these major drivers of food insecurity and malnutrition: conflict, climate extremes and economic shocks, combined with growing inequalities, the heads of the five UN agencies wrote in this year's Foreword. The issue at stake is not whether adversities will continue to occur or not, but how we must take bolder action to build resilience against future shocks, it added. (By Yoshita Singh <keyword id="6355833" type="General" weightage="50" keywordseo="united-nations" source="Orion">United Nations</keyword>) SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/golden-girl-p-t-usha-becomes-the-eighth-keralite-to-be-honoured-with-a-rajya-sabha-nomination/articleshow/92716060.cms">Golden girl P.T. Usha becomes the eighth Keralite to be honoured with a Rajya Sabha nomination</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/rbis-moves-to-boost-forex-inflows-could-have-an-impact-on-domestic-borrowing-rates/articleshow/92715761.cms">RBI's moves to boost forex inflows could have an impact on domestic borrowing rates</a>

India has fewer undernourished people now but obesity and anaemia are on the rise

New Delhi, May 6 () Promoters of cold chain projects on Wednesday demanded that the government should provide subsidy on power tariff as they are facing cash crunch because of the nationwide lockdown. The demand was made by cold chain promoters during an interaction via video conferencing with Food Processing Minister Harsimrat Kaur Badal. The minister emphasised the importance of food processing enterprises, especially the Integrated Cold Chain Network, in the present uncertain and evolving circumstances in view of the COVID pandemic, an official statement said. This network saves the farmers from uncertain circumstances and also facilitates stabilization of market prices, it added. The food processing industry has the potential to absorb the excess farm produce, thereby benefiting the farmers and at the same time, convert the harvest into a value added processed product that can meet the domestic as well as the global demand, the statement said. Minister of State for Food Processing Rameswar Teli was also present at the video conferencing with the promoters of completed integrated cold chain projects supported by the Union Food Processing Ministry in Haryana, Punjab, Himachal Pradesh, Jammu and Kashmir and Rajasthan. The promoters of 38 cold chain projects across five states participated in the deliberation and shared their experience gained and problems faced in completing the projects, the official statement said. Further, the promoters also shared hardships and problems faced in running the cold chain projects during the lockdown period. They expressed concerns about the decision of the local government authorities to limit the hours of operations of mandis to avoid overcrowding, saying this has affected procurement operations. The issue of hike in freight cost by 30 per cent and its impact on exports was raised by them. Citing the low domestic demand amidst the pandemic, the industry representatives from the cold chain sector unanimously pitched for subsidy in the power tariffs. "They urged that a cold store needs to function 24/7 and the plant compressors cannot be shut at any point of time," the statement said. MJH MKJ

Lockdown: Cold chain operators seek subsidy on power tariff

New Delhi, Jan 28 () India has pitched for elimination of trade-distorting subsidies on agriculture and ensuring differential treatment to developing countries by the WTO members, the commerce ministry said on Tuesday.
 Quoting Commerce Minister Piyush Goyal, it said that during his participation in an informal ministerial gathering in Davos last week, he also made a case for working out a permanent solution for public stockholding for food security purposes.
 During his intervention at the gathering, he said the current challenges throw up some key priorities for the forthcoming ministerial meeting of WTO members in June in Nur-Sultan, Kazakhstan.
 On the World Trade Organization's (WTO) appellate body for dispute settlement, he said early restoration of the full strength of the body will help in realising the objectives of the WTO.
 "The agenda for WTO reforms should be balanced and inclusive, to address the historic asymmetries in the Uruguay Round agreements" he said.
 He said that a "good starting point for the reform agenda" of the WTO would be "removing the imbalances" in the agreement on agriculture, and ensuring a level-playing field, particularly for developing economies.
 He further said that as long-standing proponents of WTO reform, developing countries have, for almost 20 years, sought the elimination of unequal and trade-distorting entitlements in the Agreement on Agriculture.
 "Another positive step will be to build upon the work of the last several years, and to implement existing mandates such as a permanent solution for public stockholding for food security purposes," he said.
 The minister also said developing countries, particularly the least-developed countries (LDCs), have not been able to achieve an equitable share in world trade, therefore, the continued availability of special and differential treatment, for these countries, is imperative for them to address their development aspirations.
 Goyal said the reform process should not be used to further restrict the flexibilities, and policy space required by developing countries, to better integrate with the global trading system.
 "It should open more opportunities for them, taking into account the contrasting levels of prosperity, unequal levels of economic development, and vast disparity in human development indicators, so that global trade becomes sustainable," he added.
 Goyal said that significant outcome at Kazakhstan is essential, for further strengthening the role of the WTO in global trade.
 "To achieve this, he added that it is necessary to put in place a structured process that will help finalise a limited list of focussed, doable and fair proposals, that may be concluded at MC12 (12th ministerial conference meet)," he said.
 Talking about fisheries subsidies, he said unregulated industrial fishing by some nations, has led to a major depletion of the global marine stock.
 "There is an urgent need for strong disciplines to regulate harmful fisheries subsidies in order to ensure the sustainable use of marine resources for securing inter-generational equity," he said.
 The minister cautioned that countries need to be cognizant of the existence of a large population of subsistence and artisanal fishermen in LDCs and developing countries who rely on fishing for their basic livelihood.
 He urged that as they have no other livelihood options, all nations must collectively care for this vulnerable population of marginalised fishermen.
 " Adequate policy space, to ensure a decent standard of living for subsistence-level fishermen, by modernizing their fishing fleet and expanding their fishing capacity, is a critical outcome for India," he said. RR CS RR HRS

You Searched For "food subsidy" and got 11 results

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