Corporate Results of over 2500 companies Thursday, November 18, 1999
fesub.gif (4328 bytes)
Full Story
fe.gif (834 bytes) flnews.gif (5153 bytes)
Search FE
-
Download
BSE Quotes
NSE Quotes
-
Think Tank
This week we focus on a complete analysis of the
internet industry
-
 

Delhi to stand firm on farm subsidy cut -- PM 

Siddharth Zarabi  
New Delhi, Nov 17: Prime Minister Atal Behari Vajpayee on Tuesday said thatthe subsidy on agriculture sector will not be removed and said that hisGovernment would not give into pressure on this account at the WTOministerial meeting at Seattle later this month.

A high level inter-ministerial meeting was also held on Tuesday where thecountry's strategy for the Seattle Round was discussed.

Vajpayee also said that he had asked other developing countries during theCommonwealth heads of state meeting in Durban to come together and evolve ajoint strategy against the pressure of the developed world on the issue ofsubsidies.

"We have given a message at Durban that we will not bend under the pressureof the developed countries," the Prime Minister said. He also said Indiawould take the lead on behalf of the developing countries at Seattle.

Sources added that while Vajpayee acknowledged that there was substantialpressure from the developed world on India to soften its stand on themultilateral trading system, he was emphatic that national interests will beprotected.

While India has to participate irrespective of its differences of opinion ona variety of issues, sources added that the Prime Minister was concernedabout protecting the country's national interest. Vajpayee said that theissues and the Government's stand on them will be taken to the people. ThePrime Minister also met senior leaders of the Akhil Bharatiya VidyarthiParishad, the youth wing of Rashtriya Swayemsevak Sangh (RSS) during theday.

Meanwhile, BJP has said it was preparing a paper enumerating its stand atthe Seattle Round. "Our economic affairs cell is preparing a paper for theGovernment", party general secretary KN Govindacharya said. Asked ifGovernment would convene an all-party meeting on the issue, he said therewas no need for it as the commerce ministry was very active. He said effortsshould be made to protect the country's interests and `optimise' thebenefits to be gained from the multilateral trading system.

The World Trade Organisation replaces the General Agreement on Tariffs andTrade (GATT), which was in existence from 1948 to 1994. Following itsestablishment in 1995, the WTO has become the principal institutionalfoundation of multilateral trading system.

Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.

- Lead Stories | Corporate | Infrastructure | Commodities | Economy/Finance | BSE Today | NSE/ Markets | Strategy | Convergence | After Hours top.gif (150 bytes)Top
flame.jpg (1068 bytes) © Copyright 1999: Indian Express Newspaper(Bombay) Ltd. All rights reserved throughout the world.
This entire edition is compiled in Mumbai by The Indian Express Online Media Limited, a division of
The Indian Express Group of Newspapers. Managed by The Indian Express Online Media Limited and hosted by CerfNet.