The Centre may raise the excise duty on sugar output and levy a moderate export duty if it decides to lift controls on the commodity.
It should cap the purchase to 75% of the last year’s procurement to save the food management system, which is in complete disarray,” said Ashok Gulati, chairman, CACP.
It’s quite time-consuming and may not be placed before the House in the Budget session,” sources in the ministry said.
Sugar decontrol was strongly recommended last year by a committee led by C Rangarajan, the influential head of the economic advisory council of the prime minister.
A minimum export price makes sure that exports do not happen at the cost of local consumption.
Indian consumer goods and edible oil companies are rapidly switching to eco-friendly palm oil to create sustainable supply chains.
The FMC has been pushing the exchanges to adopt fair and transparent practices. This service will keep a check on unauthorised trades through investor accounts.
The Centre is planning to appoint an independent agency to assess the price behaviour of crop nutrients after the introduction of nutrient-based subsidy.
Ministers at war with each other, allegations that companies have pocketed Rs 1,000 crore from the subsidy bill and a strong rebuttal of all charges by the government.
Wheat exports are poised to rise as govt is keen to ship out 5 million tonne from official stocks to make space for the bumper harvest.
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