Prime Minister Modi Announces New Policies to Help Farmers
Prime Minister Narendra Modi has announced a series of new policies aimed at supporting India’s farmers. These initiatives include reducing the export duty on onions and increasing the import duty on edible oils. According to PM Modi, these changes will help increase farmers’ income and create more job opportunities in rural areas.
Union Minister of Agriculture and Farmers Welfare, Shivraj Singh Chouhan, also highlighted these measures. He noted that the basic duty on refined oil has been increased to 32.5 percent, which is expected to boost the demand for crops like mustard, sunflower, and groundnut. This will help farmers get better prices and encourage the establishment of more refineries in rural areas.
Additionally, the export duty on onions has been reduced from 40 percent to 20 percent, providing better prices for onion-producing farmers and enhancing exports. The government has also removed the minimum export duty on Basmati rice to ensure fair prices for farmers and increase demand for exports.
The import duty on edible oils has been increased from 0 to 20 percent, with a total effective duty of 27.5 percent. This change is expected to raise soybean crop prices and encourage domestic purchases by edible oil manufacturers.
Chouhan expressed his gratitude to Prime Minister Modi for these important decisions, emphasizing their positive impact on farmers and related sectors.
Doubts Revealed
Prime Minister Modi -: Prime Minister Modi is the leader of India. He makes important decisions for the country.
export duty -: Export duty is a tax that people have to pay when they send goods to other countries. Reducing it means farmers can sell their onions to other countries more easily.
import duty -: Import duty is a tax on goods coming into the country. Increasing it on edible oils means it will be more expensive to buy these oils from other countries, which can help local farmers.
edible oils -: Edible oils are oils that we use for cooking, like sunflower oil or mustard oil.
Union Minister Shivraj Singh Chouhan -: Shivraj Singh Chouhan is a senior leader in the Indian government. He supports the new policies for farmers.
Basmati rice -: Basmati rice is a special type of rice grown in India. It is known for its long grains and nice smell.
minimum export duty -: Minimum export duty is the lowest tax that must be paid when sending goods to other countries. Removing it means farmers can sell Basmati rice abroad without paying this tax.