India and other developing nations, on the other hand, want the peace clause until a permanent solution is found on the matter for smooth implementation of the food security programme.
Addressing the food security concerns is important as India is still has 190 million hungry people, Cabinet Secretary Ajit Seth said at an event organised by a global think-tank The Club of Rome.
Trade ministers and diplomats from around 130 countries are participating in the four-day meeting that started on Tuesday.
When asked about the possibility of talks getting extended for another day, World Trade Organization spokesperson Keith Rockwell said: "The concept of time is flexible in WTO."
The minister, at a packed press conference, made it clear that New Delhi was not prepared for any compromise on the food security issue, adding the deal at Bali has to be fair and balanced as 'it is better to have no agreement than a bad Agreement'.
India's Food Security Act entitles 82 crore people to 5 kg of foodgrains per person a month at Rs 1-3 per kg.
According to the final draft of the negotiating text circulated by WTO Director-General Roberto Azevedo among trade ministers of the 159 member countries on Wednesday night, on public stockholding for food security purposes, a developing country like India can provide subsidies for farm support even if those exceed the permissible 10 per cent cap.
The WTO has fixed an external reference price (ERP) for rice at Rs 3.52 per kg