Tuesday, March 01, 2016
Increased budget allocation will help to check prices of essential commodities
Shri Ram Vilas Paswan, Minister of Consumer Affairs, Food and Public Distribution
Increased allocation for price stabilization fund in the budget 2016-17 will help to check prices of essential commodities, especially of pulses. Ministry of Consumer Affairs has already prepared an action plan for this purpose. More than 50,000 MT pulses have been procured from the farmers by various Government agencies at the market prices and decision to import 20,000 MT pulses has been taken. This was stated by Shri Ram Vilas Paswan, Minister of Consumer Affairs, Food and Public Distribution while briefing media persons about budget proposals for his Ministry here today. He said total buffer stock of 1.50 lakh MT pulses is being created and import of 6000 MT pulses has already been ordered. These efforts will certainly help to keep prices under check, he asserted.

Shri Paswan said besides increase in price stabilization fund from Rs. 500 crore to Rs. 900 crore in the budget, the Government has also allocated Rs. 500 crore to promote pulses production during current fiscal year. The operation of the fund has also been transferred to the Department of Consumer Affairs from Ministry of Agriculture for better coordination and timely action. He said an inter ministerial committee reviews the prices of essential commodities on the weekly basis to keep the prices under check and plan advance action, if required.

Regarding implementation of Food Security Act, Shri Paswan expressed the hope that by next month, the Act will be rolled out in all the states expect Tamil Nadu. He said to bring in more transparency in Public Distribution System, more than 3 lakh ration shops will be automated by installing “point of sale” devises by the end of this fiscal year. Online procurement will be introduced to extend the reach of FCI operations during this budget year to make these more transparent and to extend benefits of MSP operations to more farmers, he said.

Powered by Capital Market - Live News