How has the government tried to control the rise in food prices in India
Explain the measures taken by the Centre to check the price rise of essential food items in India.
- Price Stabilization Fund (PSF) - The government has set up a Price Stabilization Fund to tackle price fluctuations in agricultural commodities by providing market interventions such as procurement, storage, and distribution.
- Minimum Support Price (MSP) - The government sets MSP for various crops to ensure that farmers are getting fair prices for their produce. This helps to control the rise in food prices by keeping the supply of agricultural commodities steady.
- Stock Limits - The government has imposed stock limits on traders and dealers to prevent hoarding and ensure that food items are available at reasonable prices in the market.
- Subsidies - The government provides subsidies on various inputs such as fertilizers, seeds, and irrigation to farmers to encourage agricultural production and boost supply.
- Food Security Measures - The government has introduced various food security measures such as the National Food Security Act and the Public Distribution System (PDS) to ensure that essential food items like grains, pulses, and oil are available at affordable prices to the needy.
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