Inflation-indexed food subsidy best to calculate local subsidies- India govt source

NEW DELHI Fri Aug 1, 2014 8:50am EDT

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NEW DELHI Aug 1 (Reuters) - Inflation-indexed food subsidy calculation is the best way to calculate domestic subsidies, an Indian trade ministry official said on Friday.

India's demands for concessions on agricultural stockpiling blocked on Thursday a global deal to standardise customs rules, which would have been the first global trade reform in two decades.

New Delhi has sought an indefinite peace clause on food security until a permanent solution is found, the official, who did not wish to be identified due to the sensitivity of the matter, told reporters earlier. (Reporting by Manoj Kumar; editing by Malini Menon)

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