News Details

( 10/08/2018 09:54)
CCEA okays Rs 5,237 cr scheme to provide pulses to states for PDS

Sitting on a huge stock, the Centre decided to sell nearly 3.5 million tonnes of pulses to states at Rs 15 per kg lower price than the wholesale rate for distribution under PDS and other welfare schemes, costing exchequer Rs 5,237 crore, reported PTI.

The decision in this regard was taken by the Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi.

The Centre will provide 3.48 million tonnes of pulses to state governments from its stock procured under the price support schemes (PSS), it added.

"Under this approved Scheme, the States/UT Governments are offered to lift 34.88 lakh tonnes of tur, chana, masoor, moong and urad at discount of Rs 15 per kg over the prevailing wholesale market price of the sourcing state on first come first serve basis," an official statement said.

This will be one-time dispensation for a period of 12 months or complete disposal of 34.88 lakh tonnes of pulses stock, whichever is earlier, it added.

"Government will spend Rs 5,237 crore for implementation of this scheme," said Law and IT Minister Ravi Shankar Prasad after the Cabinet meeting.

The states/UTs can utilise pulses for supply through ration shops and other welfare schemes such as mid-day meal, integrated child development programme, among others.

As pulse prices fell after record production in last two years, the Union Agriculture Ministry decided to intervene in the market to procure dals at the minimum support price (MSP) to protect farmers' interest. Under the PSS, it procured 4.54 million tonnes of pulses.

The ministry is selling pulses from its stock to clear storage space for coming Kharif harvest when it might have to buy more stock under the PSS in view of higher production following sharp hike in MSP.

ATTENTION INVESTORS 1 : "No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case | 2 : "Prevent Unauthorized Transactions in your demat / trading account --> Update your Mobile Number/ email Id with your stock broker / Depository Participant. Receive information of your transactions directly from Exchanges on your mobile / email at the end of day and alerts on your registered mobile for all debits and other important transactions in your demat account directly from NSDL/ CDSL on the same day." - Issued in the interest of investors. | 3 : KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.

SEBI Regn. NSE: INB231280430 I F&O: INF231280430 I BSE: INB011280436 I NSE CD: INE231280430 I MCX-SX: INE261280430

Copyright © 2017 Rikhav Securities Ltd. All rights reserved

Designed , Developed & Content Powered by DION