14-Sep-2024 06:40 PM
5670
Mumbai, Sep 14 (Reporter) Maharashtra Deputy Chief and Finance Minister, Ajit Pawar, on Saturday welcomed the central government's decision to revoke the minimum export price (MEP) cap that was imposed last year on basmati rice and onion to reduce domestic food inflation.
He thanked Prime Minister Narendra Modi and Union Home & Cooperative Minister Amit Shah and Commerce Minister Piyush Goyal for the same.
Along with the decision to revoke MEP on onion and basmati rice, a crucial decision has been made to increase the import duty on edible oils, he said.
He further stated that the decision has brought great relief to onion, basmati rice and soybean farmers in the country.
Pawar had persistently urged Shah and the Ministry of Commerce to remove the export duty on onion and basmati rice and to increase the import duty on edible oils. His demands have been successfully met by the central government.
To control domestic food inflation, the MEP threshold was imposed on onion and basmati rice. On Friday, the central government removed the same on onion.
Additionally, a significant increase in the import duty on edible oils has been made, which will provide great relief to soybean farmers in the country, as soybean prices are expected to rise.
The government's decision will benefit onion, basmati rice and soybean farmers across the country...////...