The home minister said the government has also decided to abolish excise duty on basmati rice. | File Photo: PTI
The Narendra Modi government is increasing exports to ensure fair price to farmers for their crops so that they can get maximum price for their crops, Union Home Minister Amit Shah said on Saturday.
Shah also said that keeping the interests of farmers at the forefront, the government has taken three important decisions including scrapping the minimum export price (MEP) for onions and Basmati rice.
“The Modi government has decided to remove the minimum export price (MEP) of onions and reduce the export duty from 40 per cent to 20 per cent. This will increase onion exports, thereby increasing the income of onion farmers,” he wrote on ‘X’ in Hindi.
The Home Minister said the government has also decided to abolish the MEP on Basmati rice, which will enable farmers producing Basmati rice to earn more profits by exporting it.
“Furthermore, the Modi government has decided to increase the import duty on crude palm, soyabean and sunflower oils from 12.5 per cent to 32.5 per cent and the duty on their refined oils from 13.75 per cent to 35.75 per cent. This will help Indian soyabean farmers get better prices for their crop and increase their income,” he said.
(Only the headline and image of this report may have been reworked by Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First published: September 14, 2024 | 16:15 IS
Disclaimer:
The information contained in this post is for general information purposes only. We make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the post for any purpose.
We respect the intellectual property rights of content creators. If you are the owner of any material featured on our website and have concerns about its use, please contact us. We are committed to addressing any copyright issues promptly and will remove any material within 2 days of receiving a request from the rightful owner.