India will not cut multi-billion dollar food handout program: PM

NEW DELHI (Reuters) - India will not scale down its multi-billion dollar food welfare program that promises ultra-cheap rice and wheat to most of its people, Prime Minister Narendra Modi told lawmakers in parliament on Tuesday. A panel set up by Modi had urged the government in January to lower the number of beneficiaries to 40 percent from 67 percent under the program, which is estimated to cost the exchequer $20 billion in the fiscal year that begins in April. "The government has not decided to reduce the coverage under food security from 67 percent," Modi said. "There is no such plan either." (Reporting by Rajesh Kumar Singh; Editing by Biju Dwarakanath)