Govt may withdraw export restriction on rice

FM ASSURES: The Finance Minister has indicated that the ban may be removed soon.

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New Delhi: The Government is thinking of withdrawing the export restriction on rice. The Government had banned the export of non-basmati rice in April this year to fight inflationary pressure.

Finance Minister, P Chidabaram, who was in Delhi at the inauguration of a rice export facility, indicated that the ban will be removed soon.

"For the first time, we have had three crisis' hit the world at the same time. A fuel crisis, a food crisis and a financial crisis. It has caused some some restrain in the Indian economy," he said.

"In order to get over that strain, we have to place some temporary restrictions, but hopefully these temporary restrictions will be removed as early as possible. Hopefully things will ease," he added.