Govt approves extension of order for states to regulate trade of some essential commodities
Updated: Sep 22, 2015 02:19:45pm
New Delhi, Sept 22 (KNN) The Union Cabinet chaired by the Prime Minister Narendra Modi on Tuesday has given its approval for extension of validity of order which will enable states to regulate trade of essential commodities like pulses, edible oils and edible oilseeds from October 1 to September 30, 2016.
This will also enable the states to continue to take effective operations under the Essential Commodities Act, 1955. They can impose stock limits and licensing requirements to curb unscrupulous trading, hoarding and profiteering.
The extension will also help them in tackling the problem of ensuring adequate availability of these commodities in the domestic market and keep prices under control.
To enhance availability and moderate prices of essential commodities, especially pulses and onions, the government has already suspended future trade in pulses like urad and tur.
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 Stabilisation scheme.
To increase availability of pulses in the domestic market, 5000 tons of urad and 5000 tons of tur has been ordered to be imported. These imports are likely to reach shortly, which will ease the price situation. (KNN Bureau)
This will also enable the states to continue to take effective operations under the Essential Commodities Act, 1955. They can impose stock limits and licensing requirements to curb unscrupulous trading, hoarding and profiteering.
The extension will also help them in tackling the problem of ensuring adequate availability of these commodities in the domestic market and keep prices under control.
To enhance availability and moderate prices of essential commodities, especially pulses and onions, the government has already suspended future trade in pulses like urad and tur.
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 Stabilisation scheme.
To increase availability of pulses in the domestic market, 5000 tons of urad and 5000 tons of tur has been ordered to be imported. These imports are likely to reach shortly, which will ease the price situation. (KNN Bureau)
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