REUTERS/Amit Dave/File Photo Acquire Licensing RightsMUMBAI, Nov 4 (Reuters) - India is planning to extend its free food grains programme by five years, Prime Minister Narendra Modi said on Saturday, as the government tries to shield consumers from rising prices of cereals ahead of a general election early next year.
The grains programme, estimated to cost the government around 2 trillion rupees ($24.06 billion) this year, was due to expire at the end of the year.
India, the world's second-largest producer of wheat and rice, has restricted exports of both cereals to curb rising prices at home.
Global rice prices jumped to a 15-year high after India, the world's biggest rice exporter that accounts for more than 40% of global rice exports, curbed exports of non-basmati rice varieties in July.
India last year banned wheat exports in a surprise move after a heat wave curtailed output.
Persons:
Amit Dave, Narendra Modi, Modi, Rajendra Jadhav, Clelia
Organizations:
Agriculture, REUTERS, Rights, Thomson
Locations:
Ahmedabad, India, Rights MUMBAI, New Delhi, Durg, Chhattisgarh, Mumbai, Delhi