What is OMSS, and how is the government using it to control price rise

The government has discontinued the sale of rice and wheat to states under OMSS
OMSS stands for Open Market Sale Scheme. It is a program used by the government to control price rises in essential commodities such as rice and wheat. Under this scheme, the government sells these commodities in the open market to maintain adequate supply and stabilize prices. The government has discontinued the sale of rice and wheat to states under OMSS for a few reasons: 1. Stabilizing prices: By selling rice and wheat directly in the open market, the government aims to prevent price fluctuations caused by supply shortages or oversupply. 2. Ensuring fair distribution: The discontinuation of sales to states helps in ensuring a fair distribution of grains throughout the country, without any bias towards specific regions or states. 3. Encouraging fair competition: The government's decision discourages states from relying solely on government supplies and promotes healthy competition among different market players, such as private traders and retailers. 4. Reducing fiscal burden: By limiting the sale of rice and wheat under OMSS, the government reduces its financial burden of procuring and storing excess grains, thus optimizing the utilization of public funds. Overall, the discontinuation of rice and wheat sales under OMSS helps the government exercise better control over price rises while promoting fair competition and efficient distribution.
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