Shooting inflation, which has remained above the Reserve Bank of India’s upper limit threshold for four straight months, has prompted the government to take stringent fiscal.
After wheat the next victim is sugar.
The government has placed curbs on export of sugar, days after banning export of wheat, in a bid to control food inflation and to ensure availability of sugar in the domestic market.
Sugar exports have been placed under ‘restricted’ category with effect from 1 June 2022, the Ministry of Commerce and Industry said, limiting sugar exports to 10 million tonne till the end of the season on 31 October 2022.
India is the second largest sugar exporter in the world.
