Krishi VaartaKrishi Jaagran
Central Government: 15% Subsidy on Soybean Export
New Delhi: The centre revealed its plan to provide 15% soybean subsidy and requested a 5% decrease in GST, said Pasha Patel, Chairman of the State Agriculture and Prices Commission. This will benefit the soybean growers of Maharashtra. In addition to Maharashtra, this soybean manufacturing will benefit Madhya Pradesh, Rajasthan, Telangana, Karnataka, and Andhra Pradesh.
In view of the rise in soybean manufacturing, the State Commission for Agriculture and Prices has requested 15% export subsidy from the centre to make Indian soybean seeds available to the global economy. This 3% subsidy has risen by 10% from the previous year. This subsidy has reached up to 7% in the current year. In perspective of this, Union Commerce and Industry Minister, Piyush Goyal, requested the soybean export subsidy to be 15% for farmers' welfare. The proposal was approved by the Ministry of Agriculture, according to Patel.
Source: Krishi Jagran, 24 June, 2019
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