an important step in the right direction, let’s just hope the subsidized food gets to those who need it most…
In a major victory for India, the World Trade Organisation or WTO on late Friday night agreed to allow countries to provide subsidy on staple food crops without any threat of punitive action
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The deal allows nations such as India to fix a Minimum Support Price (MSP) for farm produce and to sell staple grains to the poor at subsidised rates. It also permits countries to store foodgrains to meet contingency requirements.
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The draft agreement, which will protect the right to food and allow India to go ahead with its $20 billion food security scheme, is expected to be adopted by the plenary later in the day.
“It’s a victory for Indian farmers and farmers of the developing world. It is also recognition of the right of developing nations for public stock-holding of food grains to ensure food security for their citizens,” Mr Sharma said.
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According to the proposal, all schemes providing support in relation to procurement for public stock-holding programmes for staple food crops will be protected from WTO litigation.
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