Modi Government Boosts Farmers' Income through Strategic Export and Import Policies

The Narendra Modi government is enhancing exports and modifying import duties to ensure better prices for farmers. Key decisions include removing minimum export prices for onions and Basmati rice, and increasing import duties on certain oils. These measures aim to boost farmers' incomes and support agricultural growth.

The Narendra Modi administration is ramping up exports to secure fair prices for farmers' crops, announced Union Home Minister Amit Shah on Saturday.

Shah highlighted that the government has made three significant decisions to prioritize farmers' interests: eliminating the minimum export price (MEP) for onions and Basmati rice, and revising export duties.

'The Modi government has decided to remove the MEP on onions and reduce export duty from 40% to 20%, which will boost onion exports and increase farmers' income,' stated Shah on the social media platform 'X.'

The home minister also confirmed that abolishing the MEP on Basmati rice will allow farmers to earn higher profits through exports.

'Additionally, the government has opted to raise import duties on crude palm, soya, and sunflower oils from 12.5% to 32.5%, and on their refined versions from 13.75% to 35.75%. This move aims to fetch better prices for India's soybean farmers, thereby increasing their revenue,' Shah elaborated.

(With inputs from agencies.)