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Budget 2012 must merge NREGA with Food security to cut subsidy

The Union budget is just about 10 days away, and economists are keeping their fingers crossed on what lies ahead. But their prescriptions are clear: fiscal consolidation, energy pricing reforms, and rationalisation of subsidies.

 Budget 2012 must merge NREGA with Food security to cut subsidy

Reuters

Firstpost's R Jagannathan talked to Indranil Pan, chief economist of Kotak Mahindra Bank, and his key prescriptions include moving towards diesel deregulation, and merging the MGNREGA (or NREGA) employment guarantee scheme and food subsidies into one composite, since the NREGA's "Keynesian" approach has outlived its utility.

According to Pan, it would be worthwhile checking if NREGA can be "subsumed" in the wider food security plan where the scheme can be used to build assets for the food security infrastructure.

Watch the whole Firstpost interview here.

See more Budget 2012 videos and expert views on Firstpost: Ajay Shah, Rupa Rege Nitsure,Surjit Bhalla, Ashima Goyal, Jim Walker, DK Joshi, Ajit Ranade, Art Woo..

See more Budget 2012 issue based videos on Firstpost: Subsidies, Fiscal Deficit, Inflation, Taxation.

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Updated Date: Jan 21, 2015 12:02:55 IST