Govt control on pulses, edible oil trade to go on till Sept 2016

States can regulate trade of essential commodities and take effective operations under the Essential Commodities Act, 1955

Source: PIB, Government of India

The Union Cabinet chaired by Prime Minister Shri Narendra Modi on Tuesday has given its approval for extension of validity of Central Order No.SO.2559 (E) dated 30.9.2014 for a further period of one year, that is from 1st October, 2015 to 30th September 2016 in respect of pulses, edible oils and edible oilseeds. This will enable states to regulate trade of these essential commodities and to continue to take effective operations under the Essential Commodities Act, 1955. They can impose stock limits/licensing requirements etc. to curb unscrupulous trading, hoarding and profiteering. The extension will also help the states in tackling the problem of ensuring adequate availability of these commodities in the domestic market and keep prices under control. The government has taken a series of policies, initiatives and measures to enhance availability and moderate prices of essential commodities, especially pulses and onions. Future trade in pulses like urad and tur has already been suspended. Export of pulses has been banned and there is zero duty on import of pulses. Pulses have also been included for assistance under the price stabilization scheme. To increase availability of pulses in the domestic market, 5,000 tonnes of urad and 5,000 tonnes of tur has been ordered to be imported. These imports are likely to reach shortly, which will ease the price situation.  

September 22, 2015 | 3:43pm IST.

 

The Dollar Business Bureau - Sep 22, 2015 12:00 IST
 
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