What steps has the government taken to check the rising prices of rice and wheat, and what is the effect of it
Discuss the steps taken by the government to control the prices of essential commodities, and what are the implications of the halting of the sale of rice and wheat to the states for the Open Market Sales Scheme (OMSS).
- The government has declared a minimum support price (MSP) for both rice and wheat to stabilize and support farmers' income.
- The government has increased the import duty on wheat to reduce imports and encourage domestic production.
- The government has also imposed export restrictions on rice and wheat to increase the domestic supply.
- The government has increased the allocation of food subsidy to provide affordable food to the underprivileged.
- It can lead to a shortage of essential commodities in the market and cause an increase in prices.
- It can lead to hoarding and black marketing of rice and wheat, causing further inflation.
- It can also affect the government's stock of food grains and impact their ability to manage food security programs effectively.
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a year ago