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What are the measures taken by the Indian government to check price rise of essential commodities

Explain the steps taken by the government to control the price hike and ensure adequate distribution of essential food items to the people.
The Indian government has implemented several measures to check the price rise of essential commodities and ensure their adequate distribution to the people. Some key steps taken are: 1. Buffer Stock: The government maintains a buffer stock of essential food items like rice, wheat, and pulses to stabilize prices during times of shortage. 2. Price Control: The government regularly monitors and controls the prices of essential commodities to prevent excessive inflation. It sets maximum retail prices and takes action against hoarders and black marketers. 3. Import and Export Policies: Import duties are adjusted to regulate the inflow of essential commodities. Export bans or restrictions are imposed during scarcity to prioritize domestic supply. 4. Public Distribution System (PDS): The government runs a network of fair-price shops under the PDS, providing subsidized food grains and other essential items to vulnerable sections of society. 5. Price Monitoring Cells: These cells monitor price movements and keep a check on inflationary tendencies, alerting the government to take necessary action. Overall, these measures aim to control price hikes, ensure availability, and maintain a reasonable cost of essential commodities for citizens.
Answered 2 years ago
Amrita Aspirants