India protected against global food crisis: Abhijit Sen
Allaying fears of a high foodgrain inflation due to global problems, Planning Commission Member Abhijit Sen on Thursday said India is insulated against any such crisis, at least in the near future.
By PTI |
NEW DELHI: Allaying fears of a high foodgrain inflation due to global problems, Planning Commission Member Abhijit Sen on Thursday said India is insulated against any such crisis, at least in the near future.
"Foodgrain inflation in India is under control... In the last three years, our foodgrain production has increased by 30 million tons to 230 million tons. The wheat stock with the government is likely to go up by at least four million tons this year," Sen said here at a meeting on food inflation, organised by Russian Information Centre.
The Planning Commission member, however, said much needs to be done at the global level to increase grain output.
"The world is producing much less than its potential... There should be effective management of resources," he said.
According to him, food, oil and fertiliser make up for the whole international crisis. But the World Trade Organisation has not been able to tackle the price rise as it should, he opined.
"As far as agri situation is concerned, we have not found the going to be as promised (at the WTO)," Sen said at the meet, where Russian experts were present via video conferencing.
Speaking on Russia's inclination towards a membership at the WTO, Sen said the military superpower may have to meet more stringent norms to be part of the apex global trade body than India which enjoys the status of a founding member.
Calling for Russian co-operation in the fertiliser sector, Sen said, "Though our urea production is roughly sufficient, we are lacking in Phosphates and Potash."
Sen was also critical of bio-fuel, saying there are other ways of producing energy but "the bad way of doing it is more dominant".
"Foodgrain inflation in India is under control... In the last three years, our foodgrain production has increased by 30 million tons to 230 million tons. The wheat stock with the government is likely to go up by at least four million tons this year," Sen said here at a meeting on food inflation, organised by Russian Information Centre.
The Planning Commission member, however, said much needs to be done at the global level to increase grain output.
"The world is producing much less than its potential... There should be effective management of resources," he said.
According to him, food, oil and fertiliser make up for the whole international crisis. But the World Trade Organisation has not been able to tackle the price rise as it should, he opined.
"As far as agri situation is concerned, we have not found the going to be as promised (at the WTO)," Sen said at the meet, where Russian experts were present via video conferencing.
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Speaking on Russia's inclination towards a membership at the WTO, Sen said the military superpower may have to meet more stringent norms to be part of the apex global trade body than India which enjoys the status of a founding member.
Calling for Russian co-operation in the fertiliser sector, Sen said, "Though our urea production is roughly sufficient, we are lacking in Phosphates and Potash."
Sen was also critical of bio-fuel, saying there are other ways of producing energy but "the bad way of doing it is more dominant".
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