Ministry of Food Processing Current Affairs - 2020

Corona Virus: GoI halts three crucial policies as revenues shrink

As the outbreak of corona virus has hit revenue collection, the Government of India has dropped three crucial policies.

Highlights

The revenue collection for the fiscal year 2019-20 has contracted by 3.5% in the first 11 months. With the increasing threat of Corona Virus, it is expected that the revenue collection is to get reduced further. Therefore, the GOI has halted three crucial policies.

The policies are all the proposals of food ministry.

Policies Halted

The food ministry had earlier proposed taxes on imported crude and refined vegetable oil from Malayasia. This includes palm oil as well. The proposal was the reduce the taxes by 3%-7% in order to keep the domestic prices under control. This was shelved by the Food Ministry

The Food Ministry had also proposed supply subsidized rice and wheat to millions of people. It also suggested increasing the supply of rice and wheat to 7 kg per month. Currently, 5 kg per month is supplied under public distribution system.

The Food Ministry also proposed to provide vitamin-fortified rice that involved an expenditure of 5 trillion rupees.

The above three policies that were earlier considered by GOI are now been halted due to the increasing threat of Corona Virus.

GoI hosts National Organic Food Festival in New Delhi

The Government of India is to host National Organic Food Festival at the National Capital between February 21, 2020 and February 23, 2020. The festival is first of its kind. Around 150 women entrepreneurs are to participate in the festival

Highlights

The Ministry of Food Processing is organizing National level Food Festival for 3 days. Several Self-Help Groups are to exhibit their spices, fruits and vegetable, honey, dry fruits, cereals, etc. The main aim of the festival is to boost production of organic products. The festival is to be conducted under the theme

Theme: Unleashing India’s Organic Market Potential

Purpose

The festival aims to conduct training programmes, marketing innovation programmes, imparting knowledge about supply of organic products. It will also conduct training programmes on FSSAI regulations that will help to get familiarized with regulatory processes.

Organic Market Potential of India

India is world’s 9th largest agricultural organic market in the world. It produces 1.7 million tonnes of organic foods. It includes cotton, pulses, fruits, tea, medicinal plants, coffee, vegetables, sugarcane, oil seeds, etc.

Goal Set

India has set a goal of increasing business of organic sector to Rs 75,000 crores by 2025. In 2015, it was Rs 27,000 crores.