Enhancement of the Buffer Stock of Pulses Up to 20 Lakh Tonnes Approved [ Current Affairs ]
The enhancement of the buffer stock for pulses up to 20 lakh tonnes has been approved by the Cabinet Committee on Economic Affairs (CCEA) which was proposed by the Department of Consumer Affairs under the Union Ministry of Consumer Affairs, Food and Public Distribution.
- Using domestic procurement and imports of 10 lakh tonnes each the buffer stock will be setup.
- The domestic and global the specific variety of pulses and their respective quantities for the buffer stock will be decided based on the price and availability position.
- Releases from the stock and gaining would be based on the fundamental pulse scenario and buffer stock position in successive year.
- The ‘Price Stabilization Fund’ Scheme of the Department of Consumer Affairs will get all the requisite funds.
- The Central Agencies viz. FCI, NAFED and SFAC or any other agency selected by PSFMC will carry out domestic procurement operations for creating the buffer stock.
- They will gain at the prevalent market prices if these prices are above Minimum Support Prices (MSP) and at MSP.
- State Governments can also carry out the procurement in the similar way as decentralized procurement of food-grains.
- Pulses will be imported under the G2G contract or by spot purchase from the global market by a designated Public Sector Enterprise.
About Cabinet Committee on Economic Affairs (CCEA):
- It is a standing committee of the Government of India.
- Its main function is to have review on areas like economic developments, foreign investment, agricultural, industrial, rural development, Ministries, Agencies and Public Sector Undertakings involved in making up schemes.
- Published on: September 13, 2016