Food Inflation: To curb the prices of rice, the Government of India has taken a big decision. The government has decided to ban the export of non-basmati rice. For this, the government has issued an order. After this decision, now the government can take many important steps to control the price of wheat and pulses.
Government can take this step
According to the report published on Moneycontrol, the government can take many decisions to control the prices of wheat and pulses. According to the report, while talking on this matter, an official has said that the prices of pulses and wheat have increased in the last few days. In such a situation, the government can consider some policy measures to control the prices of these important things. This includes steps like banning export of certain varieties of pulses and wheat, looking at demand supply and changes in import and customs duties. The government has already taken several steps to rein in the price hike.
Significantly, the government has banned the export of wheat from May 2022. At the same time, to curb the prices of pulses, the government can keep the customs duty on urad and tur at 0 percent instead of 10 percent in the financial year 2023-24.
Government bans export of non-basmati rice
Earlier on July 20, taking a big decision on rice, the government had banned its export. The Central Government has taken this decision after the damage caused to the paddy crop due to delayed monsoon. Experts are hopeful that this year a decline in paddy crop can be recorded. In such a situation, to ensure the availability of rice in the Indian market, the Ministry of Food and Consumer Affairs has decided to ban the export of non-basmati rice.
increased food inflation
According to the data of the Ministry of Food and Consumer Affairs, to control the rate of pulses in the country, under the Price Support Scheme (PPS) scheme, the purchase limit of 40 percent pulses has been removed in the financial year 2023-24. It includes tur, urad and moong dal. It is worth noting that in the last one year, an increase of 32 percent has been registered in the prices of tur. On the other hand, an increase of 5.79 percent has been registered in the price of wheat in the last one year. Last year wheat was Rs 27.80 per kg, which has now increased to Rs 29.41 per kg.
In such a situation, to reduce the export of wheat, the government had increased the import duty of wheat to 40 percent. Apart from wheat, rice and pulses, the inflation of milk and vegetables in the country has broken the back of the common people. In such a situation, the food inflation rate in June 2023 has increased from 2.96 percent in June to 4.49 percent as compared to May.
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