India Inc questions the timing of Food Bill

The government's flagship food security scheme will be the world's biggest programme to fight hunger if the Rajya Sabha clears the proposal on Thursday to entitle 67 per cent of India to highly subsidised food. The Lok Sabha cleared the bill last night.. Sonia Gandhi urged parties to pass the Bill unanimously in a rare speech, but missed the vote. She was taken to Delhi's AIIMS hospital after she complained of chest pain and was discharged later in the night.. "The question is not whether we can do it or not. We have to do it," the Congress president said during the debate on the bill, rebutting criticism that India can't afford the Rs 1.25 lakh crore-scheme, seen as a mega vote-catcher for her party when it seeks a third term in elections next year.. Biocon chief Kiran Mazumdar Shaw, a known critic of the food bill, tweeted, "It is no surprise that the Food Security Bill went sailing through. The question is will it sink us financially?". Noted economist Dr. Surjit S Bhalla said, "Food security bill is a classic example of irresponsible populism... I don't think the passing of the bill has increased anybody's appetite for Indian assets. It may have started to decrease the appetite even more...". Others questioned the timing. "It has been done with an eye on the polls. What I would have preferred is a focus on reforms, building infrastructure and clearing supply-side bottlenecks. That is the need of the hour in my view," said Harsh Mariwala, Chairman and Managing Director, Marico.. And Pramod Bhasin of Genpact asked, "We have been guaranteeing so many things be it food or jobs, but does the country have enough money for it?". Ms Shaw had suggested earlier that the Food Bill be delayed as India fights sliding growth, a widening current account deficit and the free-fall of the rupee. The Lok Sabha will today discuss these worries.. Opposition parties too asked during yesterday's debate whether the country could afford the food bill right now. Over 300 amendments were sought; some were withdrawn, others were voted on before the bill was passed by voice vote. Leader of Opposition and BJP leader Sushma Swaraj tweeted, "It would have been a better bill if my amendments were passed. However, we will improve it when we come to power."

India Inc questions the timing of Food Bill

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