Prime Minister Narendra Modi on Saturday praised recent reforms in agricultural export policies, emphasising that easing export restrictions on basmati rice and onions, along with raising import duties on certain edible oils, will enhance farmers' incomes and generate rural employment.
Modi shared a post on his X profile, stating, "We are leaving no stone unturned in the interest of our farmer brothers and sisters who work day and night for the food security of the country."
"Whether it is reducing the export duty on onions or increasing the import duty on edible oils, many such decisions are going to greatly benefit our food producers. While these will increase their income, employment opportunities will also increase in rural areas," the post further said.
On Friday, the government eliminated the $950 per tonne minimum export price for basmati rice and scrapped the $550 per tonne minimum export price on onions, as per official statements.
Additionally, the government increased the import duty on crude palm oil to 20% and refined sunflower oil to 32.5% on Saturday, aiming to support domestic oilseed farmers and processors.
देश की खाद्य सुरक्षा के लिए दिन-रात जुटे रहने वाले अपने किसान भाई-बहनों के हित में हम कोई कोर-कसर नहीं छोड़ रहे हैं। चाहे प्याज का निर्यात शुल्क कम करना हो या खाद्य तेलों का आयात शुल्क बढ़ाना, ऐसे कई फैसलों से हमारे अन्नदाताओं को बहुत लाभ होने वाला है। इनसे जहां उनकी आय बढ़ेगी,… pic.twitter.com/CgOSes5W6R
September 14, 2024Modi's comments came in response to a post by Agriculture Minister Shivraj Singh Chouhan, who thanked the prime minister for taking important decisions regarding onion, basmati rice and edible oils in the interest of farmers.
AdvertisementStating that the Modi government is 'sensitive' to farmers' welfare and committed to their 'development' and 'progress', Chouhan said the reduction of export duty on onions from 40 to 20% would help onion farmers get better prices and boost exports.
The removal of basmati rice export duties aims to ensure fair prices for growers and increase demand for the premium rice variety, Chouhan added.
Regarding refined oils, the minister said the increase in basic duty on refined oil to 32.5% 'will increase the demand for mustard, sunflower and groundnut crops for refinery oil'.
Chouhan expressed optimism that farmers will get better prices for these crops and the increase in refineries in small and rural areas will create more employment opportunities.
Advertisement(With inputs from PTI)
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.