Food subsidy is of paramount importance: Rangarajan

November 24, 2012 16:13

Full subsidy to food is of`paramount importance for countries like India, Chairman of Prime Minister's Economic Advisory Council C Rangarajan has said.

"The target of the government as a part of fiscal consolidation exercise is to bring down subsidies as a percentage of GDP. But providing complete food subsidy is of paramount importance for countries like India," he said.

For this purpose, other subsidies would have to be pruned like those on petroleum products and diesel, which the government had done recently, he said.

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