It should be noted that the NFSA extends an already large food distribution programme, which previously covered about 30% of India’s population. For consumers, data on the consumption profile of the average recipient of NFSA food grain is not available. If it is assumed that the average recipient consumes 75 kg of rice, 62 kg of wheat and 21 kg of coarse grain (average per capita disappearance in 2013), then the programmes provision of 60 kg p.a. Assuming no change in the offer prices, in the rates of inflation and of the USD exchange rate, the effective subsidy in this projection rises to INR 3 076 (USD 29) p.a. A detailed analysis of the NFSA is beyond the scope of this Outlook, but anticipating its overall impact on markets is nevertheless required.