Export Tax On Rice: The government has decided to crack down on rice exports in the wake of rising rice prices in the country and fears of reduction in yields following reduced paddy acreage. The central government has imposed a tax on exporting rice. Export duty of 20 percent will have to be paid on exporting rice abroad. With this, sending rice abroad will now become expensive.
The government has imposed an export tax of 20 per cent on the export of certain varieties of non-basmati rice. These days the export of rice had increased. To prevent this, the government has decided to impose a tax on the export of rice. This decision will come into effect from September 9, 2022. The Department of Revenue under the Ministry of Finance has given this information.
In fact, after the recommendations of the Ministry of Food Supplies, the government has taken this decision. The Ministry of Food Supplies had advised imposition of tax on export of rice to keep adequate stock for PDS and Pradhan Mantri Garib Kalyan Yojana.
Due to lack of rain in many areas of the country, sowing of paddy has been affected, due to which there may be a big reduction in rice production this year. Similarly, due to the Russia-Ukraine War, there has been a shortage of wheat all over the world, due to which there has been a tremendous increase in the prices of wheat. Due to the cost of wheat, flour and its products became expensive, due to which inflation increased.
Now in this era of inflation, there may be a crisis of rice, which the whole world may have to face. In many states including West Bengal, Uttar Pradesh, there has been a decrease in sowing of paddy due to lack of rain. India accounts for 40 percent of the total trade of rice in the whole world.
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