Friday, July 18, 2008

India provides subsidy on edible oil

by Jenny Hodge

The Indian federal government has taken certain measures to help the poorer sections of the society.

It has provided relief by making available edible oil with a subsidy of Rs. 15 ($0.37) per Kg. through the state governments.

This was stated by Indian Minister for Agriculture, Consumer Affairs, Food and Public Distribution, Mr. Sharad Pawar.

While informing the Consultative Committee attached to his ministry, Pawar said that the other measures taken in the context of a rise in prices of edible oil include reduction of import duty to zero percent on crude oil and 7.5% on refined oils, a ban on export of all major edible oils and authorising state governments to impose stock limits.

However, he said that in the long run the availability of edible oils at reasonable prices can be ensured only by increasing production of edible oilseeds in the country.

Pawar further said that the government has taken a number of initiatives to improve the productivity and production of oilseeds in the country.

An allocation of Rs. 3.20 billion ($80 million) has been made under the Centrally-Sponsored Integrated Scheme of Oilseeds, Pulses, Oilpalm and Maize (ISOPOM) during 2008-09.

The states can take up activities for oilseeds development under other schemes, i.e. Rashtriya Krishi Vikas Yojana (RKVY) and Macro Management of Agriculture.

The production of oilseeds increased from 11 million tonnes in 1985-06 to 29 million tonnes in 2007-08.

This was brought about not only by an increase in area but also by improving the productivity from 570 Kg. to 1064 Kg. per hectare.

There has been a record oilseed production during 2007-08, which is about 19% higher than the production in 2006-07.

 

 

 

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