Export controls are disastrous

The Textile Ministry wants to create a “Market Stabilisation Fund” (MSF) by imposing a cess/tax between Rs 1,000 and 2,000 per candy (356 kg) on cotton exporters. The new policy suggests that “surpluses only” may be permitted for exports after determining domestic demand. Some of the other ‘straight out of the 70s’ ideas are to permit exports “after the crop is ready” with farmers; and providing loan waver for weavers.

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