India working with WTO

News:

  • India is working with the WTO members to ensure an early permanent solution on the food security issue.
  • The WTO’s General Council, had accepted India’s demand for extending the peace clause till a permanent solution is found for its food stockpiling issue.
  • This has enabled India to continue procurement and stocking of food grain for distribution to poor under its food security programme.
  • India had proposed amending the formula to calculate the food subsidy cap of 10 percent which is based on the reference price of 1986-88 or allowing schemes outside the purview of subsidy caps.
  • If no solution is found by the agreed deadline of December 31, the peace clause will continue till the time a solution is found.

Source:ET

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