Janata Party president Subramanian Swamy on Friday criticised the ambitious food security scheme, saying it will bring "disaster" for the economy. Swamy said Rs six lakh crore will be required over a period of three years to implement the scheme which will severely impact the economy.
President Pranab Mukherjee on Friday signed the Ordinance on the scheme that will give the nation's three-fourth population the right to get 5 kg of food grains every month at highly subsidised rates of Rs 1-3 per kg.
"The cost of food security law will have to be met by deficit financing...The deficit financing will further accelerate the inflation in the country causing enormous hardship for the middle class," Swamy said in a statement. He asked opposition parties to oppose the scheme when it is brought before the Parliament in monsoon session.
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