In an affidavit filed before Supreme Court, environment ministry has said domestic production of GM Mustard will reduce India’s dependency on other countries to meet domestic demand.
According to Solvent Extractors’ Association of India, diverting land from rice & wheat production in Punjab, Haryana can increase production of edible oil in India by 25 lakh tonnes.
As per government data, edible oil prices in the domestic markets have risen sharply by up to 46.15% in the last one year due to global factors and local tight supply situation.
Mustard oil is believed to be cardio protective due to its high content of monounsaturated fatty acids. But studies show its beneficial aspect is controversial.
Edible oils have seen a sharp rise in prices in last 6 months despite govt efforts to cool off rates by reducing high tax levies. June fuel inflation was 12.68%, while edible oil inflation was at 34.78%.
Finance ministry says the proposed revamp will focus on structural reforms, rate rationalisation & ease of living, & will be deliberated upon in the coming weeks.
The project is meant to be a ‘protective shield that will keep expanding’, the PM said. It is on the lines of the ‘Golden Dome’ announced by Trump, it is learnt.
Standing up to America is usually not a personal risk for a leader in India. Any suggestions of foreign pressure unites India behind who they see as leading them in that fight.
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