Government imposes stock limits on wheat to prevent hoarding
The Hindu
In order to manage overall food security and to prevent hoarding and unscrupulous speculation, the government has decided to impose stock limits on wheat for traders, wholesalers, retailers, big chain retailers and processors. The order will be applicable with immediate effect and will be applicable until March 31, 2024.
In order to manage overall food security and to prevent hoarding and unscrupulous speculation, the government has decided to impose stock limits on wheat for traders, wholesalers, retailers, big chain retailers and processors. The order will be applicable with immediate effect and will be applicable until March 31, 2024.
Stock limits will be applicable for each entity individually such as: traders/wholesalers- 3000 tonne; Retailer- 10 tonne for each of the retail outlets; Big Chain Retailer- 10 tonne for each outlet and 3000 tonne at all their depots and Processors - 75 per cent of annual installed capacity.
"Respective legal entities, as above, have to declare the stocks position and update them regularly on the portal (https://evegoils.nic.in/wsp/login) of the Department of Food and Public Distribution and in case the stocks held by them are higher than the prescribed limit then they have to bring the same to the prescribed stock limits within 30 days of issue of this notification," an official release said late on June 12, Monday.
Also read: Centre caps tur and urad dal stocks to prevent hoarding, speculation
Further, the centre has also decided to offload 15 lakh tonnes of wheat in the first phase from central pool stock under Open Market Sale Scheme to control retail prices of wheat.
Wheat will be sold in lot sizes of 10-100 tonnes. Registration for this auction is open on the FCI's e-auction platform. It has also been decided to offload rice under the open market scheme in order to moderate the prices.
The quantity for the first phase of the e-auction for rice will be decided shortly.The imposition of stock limits on wheat along with offloading of wheat and rice are part of the consistent efforts made by the government to stabilize the prices of essential commodities.
The Madras High Court on Tuesday, June 11, 2024, rejected a plea by former special Director General of Police (DGP) Rajesh Das to restore the electricity service connection to a bungalow in Thaiyur near Kelambakkam in Chengalpattu district, and to restrain Tamil Nadu Generation and Distribution Corporation (Tangedco) officials from disturbing the power supply in future.
The Madras High Court on Tuesday, June 11, 2024, permitted Anna University to deposit, in three monthly instalments, an amount of ₹73.23 lakh before the Central Government Industrial Tribunal (CGIT) as a condition to hear a statutory appeal preferred by the varsity against the Coimbatore Regional Provident Fund (RPF) Commissioner’s order to pay dues to the tune of ₹2.44 crore to contract employees.