Big decision of the government before the start of festivals, preparation to provide relief to the public by reducing the price of rice.

The central government is going to take a big step before the festival to control the prices of rice in the domestic market. Before the beginning of Tiwari season, the government is preparing to give this big gift to the public. The central government has decided to extend the export duty till 31 March 2024. The Ministry of External Affairs has also issued a notification in this regard.

Let us tell you that earlier in the month of August, with the aim of controlling the prices of rice, the Central Government had decided that 20 percent export duty will be imposed on the export of boiled rice. At present this decision of the government was till 16 October. This step of the government is important to control the price of non-Basmati rice. 25 percent of the rice exported from India is non-Basmati.

In this context, the government has taken a big decision on Friday. The government on Friday extended the period of export duty on uncooked rice till March next year. The Finance Ministry has also issued a notification in this regard. The Finance Ministry in its notification said that the period of export duty on Usna (Sela) rice has been extended to March 31, 2024. Along with the first imposed fee, now the Government of India has again taken a big step. In this context, export of all types of non-Basmati rice has been banned.

Government is taking steps to reduce the price of rice

It is noteworthy that the government is continuously taking steps to reduce inflation. By this time, a ban has also been imposed on the export of Basmati rice. There has been a ban on export of broken rice since last year. Talking about this financial year, from April to June, 15.54 lakh tonnes of non-Basmati white rice was exported whereas last year only 11.55 lakh tonnes were exported.

After the government’s money, now export duty will be imposed on rice which will reduce its export. This move has increased the possibility of a fall in rice prices. Before the start of festivals, the government is continuously trying to control the prices. The result of the government’s efforts is that retail inflation has come down after the decline in food items.