New Delhi: The government in a high level meeting chaired by Prime Minister Manmohan Singh decided to free sugar exports by removing quantitative restrictions in order to expedite shipments of the sweetener. This came after Agriculture Minister and NCP chief Sharad Pawar shot off an angry letter terming the UPA's policy on agriculture exports 'ambivalent' and 'against the interest of the farming community'.
Importantly, Pawar had termed the Food Ministry's approach to sugar exports as 'negative' which resulted in losses of over thousand of crores.
On Wednesday, the government did exactly what Pawar wanted.
The government liberalised India's sugar export policy and did away with the quota system, under which each exporter was allotted only a certain quantity....more
06:59 AM, May 03, 2012
New Delhi: The government on Wednesday decided to free sugar exports by removing quantitative restrictions in order to expedite shipments of sweetener and also scrapped the minimum export price (MEP) on onion. The government also decided to constitute a committee, headed by Prime Minister's Economic Advisory Council (PMEAC) Chairman C Rangarajan, for formulating policy on how to handle surplus foodgrains in government godowns. These decision were taken at a high...
09:51 PM, May 02, 2012