Adequate foodgrains; committed to control rising prices: PM

With nearly one-fourth of the country reeling under drought, the government today asserted the country has adequate stocks of foodgrains and all efforts would be made to check rising prices and hoarding.

"No one will go hungry...we will provide all possible assistance to our farmers to deal with the drought," Prime Minister Manmohan Singh said, assuring the nation on the 63rd Independence Day. "We have adequate stocks of foodgrains. All efforts will be made to control rising prices of foodgrains, pulses and other goods of daily use," he said in his address, issuing a stern warning to black-marketers against hoarding of foodgrains and other goods of daily use.

This year there has been deficiency in the monsoons. The government had recently said this will result in a 20 per cent decline in sowing of kharif (summer crops). In order to mitigate hardships of farming community, the Prime Minister said the government has postponed the date of repayment of loans and additional support has been given to the farmers for payment of interest on short-term crop loans.

Singh also appealed to the businessmen and industrialists to join government's efforts to tackle the difficult situation, arising out of drought, and "fulfill their social obligation."

Referring to the economic growth, the Prime Minister said, "restoring our growth rate to 9 per cent is the greatest challenge we face." Singh, however, expressed confidence there will be an improvement in the economic situation by the end of this year.

Following global meltdown since September last, India's economic growth rate slipped to 6.7 per cent in 2008-09 from an average of 9 per cent during the preceding three years. To make the growth more inclusive, the Prime Minister said the National Rural Employment Guarantee programme would be improved and the Rashtriya Swasthya Bima Yojana would be expanded to cover all families below the poverty line.

To achieve agricultural growth, he said, "India needs another green revolution...the goal of four per cent is achievable in next five years." He said the government has taken steps towards fulfilling its electoral promise of providing 25 kg of foodgrains every month at Rs3 per kg.

Under the proposed food security law every citizen below poverty line family will get a fixed amount of foodgrains every month at concessional rate, he said. He also said efforts would be made to ensure that benefits of development reach all sections of society in all regions of the country.