Suppose essential food items like grains, vegetables & fruits r banned from export & made avlb for local consumption . . . will all these items become very affordable & easily avlb for us thus controlling inflation at reasonable levels?
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Itz possible to simplify the economics so easily.
Finally one has to ensure adequate FE for the imports too otherwise, it will reflect on FE rates in turn on fuel price and all other prices including food & other commodities. Such moves are like reinventing the wheel at very high cost.