Cabinet to Take Call on India's Stand on WTO Bali Pact

The Cabinet meeting also assumes significance on the backdrop of the WTO's two-day General Council Meeting which will discuss the Bali issues.

The official said India insists on implementing the TFA only as a part of a single undertaking that includes a permanent solution on food security.

The current WTO norms limits the value of food subsidies at 10 percent of the total value of food grain production. However, the support is calculated at the prices that are over two decades old and not at the current prices.

In the recently concluded G20 trade ministers meeting in Sydney, Commerce and Industry Minister Nirmala Sitharaman has raised India's concerns over the slow progress in finding a permanent solution for its food subsidies.

The TFA, which aims at simplifying customs procedure, increasing transparency and reducing transactions cost, is being pushed by the U.S. and other developed nations as they seek to bolster their sagging economies through an unhindered international trade by way of a uniform and easy procedures at customs.

However, the official said these countries are completely avoiding discussions on issues related with public stock holding of cereals for India's food security programme.

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