Centre discontinues rice, wheat sale under open market scheme to curb price rise
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
The Centre has decided to discontinue the sale of rice and wheat from the central pool under the Open Market Sale Scheme (OMSS) to state governments.
The step has been taken to control the prices of these commodities. However, it may impact states which are offering free food grains to the poor.
An order issued by the Food Corporation of India (FCI) said: "The sale of wheat and rice under the OMSS (domestic) to state governments is discontinued."
However, the sale of rice under the OMSS will be continued for northeastern states, hilly states and states facing law and order situations, natural calamities at an existing rate of Rs 3,400 per quintal, it said.
To rein in the prices of wheat, the Centre on June 12 imposed stock limits on the commodity till March 31, 2024.
It has also announced offloading of both rice and wheat under the OMSS to cool down the open market prices and prevent hoarding.
.jpg)
