| Date: |
05-10-2012 |
| Subject: |
Govt to raise subsidy on imported pulses |
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MUMBAI (Reuters) – The government has raised the subsidy on imported pulses to 20 rupees per kg from the earlier 10 rupees, Finance Minister P. Chidambaram said on Thursday after a cabinet meeting, a move which could increase imports.
India is the world’s biggest consumer and importer of pulses. It imports mainly from Myanmar, Australia and Canada to bridge the mismatch between local production and demand.
The government supplies pulses to the poor at cheaper rates through the subsidy system.
The cabinet has also allowed state-run trading agencies to import 1 million tonnes of vegetable oils for local sales in 2012/13.
India meets more than half of its 16-17 million tonnes a year edible oil requirement through imports.
Source : firstpost.com
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