homeeconomy NewsExport ban on wheat and broken rice to continue, says government official

Export ban on wheat and broken rice to continue, says government official

Export ban on wheat and broken rice to continue, says government official
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By Sapna Das  Jan 24, 2023 4:43:18 PM IST (Updated)

The government official said they are witnessing a rise in wheat prices and grains are required for domestic supply, while the agricultural produce data is still awaited.

The export ban on wheat and broken rice will continue, government officials told CNBC-TV18, adding that the free food grain scheme would get an additional annual subsidy of around Rs 14,000 crore, which would be less than 0.1 percent of the GDP.

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The government official said they are witnessing a rise in wheat prices and grains are required for domestic supply, while the agricultural produce data is still awaited.
The official said the government has no plan of lifting or relaxing the ban on wheat exports, or broken rice exports. The official added that the ban on wheat export may continue this year if stocks do not improve.
The government also does not plan to change the minimum selling price of sugar as its prices are stable.
Last week, the Director General of Foreign Trade Santosh Kumar Sarangi said the government would take an appropriate decision regarding the demand to lift the ban on wheat exports at the time of crop harvest around March-April.
"At the time when it will be felt that there is an equilibrium in the demand and supply of wheat, arrangements will be made to allow the export of this food grain," he said last week.
Before this decision, a review will be done of the gap between the demand and supply of wheat in the country, he said.
India banned wheat exports in May 2022 with immediate effect as part of measures to control rising domestic prices.
On food subsidy
Last month, the Union cabinet decided to allow the PM Kisan Anna Yojana (PMGKAY) to sunset after 28 months of the scheme starting. The Centre has instead granted free rations for an entire year under the National Food Security Act (NFSA) from January 1, 2023.
As per government estimates, the total cost of food subsidy will now cost Rs 2 lakh crore to the state exchequer for 81.35 crore impoverished people in the country. The government official told CNBC-TV18 that the additional cost of the free food grains scheme is estimated to be around Rs 14,000 crore, which would be under 0.1 percent of the GDP.
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