India to create a buffer stock of pulses: Nirmala Sitharaman -Governance Now

India to create a buffer stock of pulses: Nirmala Sitharaman

The Indian government eventually wants to create a buffer of eight lakh tonne of pulses

GN Bureau | June 20, 2016

#onion #pulse price #inflation #price rise #Nirmala Sitharaman #tomato price

The Indian government is negotiating with countries like Mozambique, Malawe, Canada and Myanmar, to buy pulses to end the chronic and recurring price rise, said Nirmala Sithraman, commerce and industry minister.

Talking to members of the Indian women’s press corps (IWPC), Sithraman said that the government has decided to create a major buffer stock of pulses to bring down prices. For this, talks with Myanmar are on, she said. Earlier too, Myanmar had helped the Indian government when the prices of pulses soared. “The government eventually wants to create a buffer of eight lakh tonne of pulses,” she added.

India produces 17 lakh tonne of pulses as against the requirement of 23 lakh tonne. “The Modi government is working on a strategy to bridge this gap,” she said.

"We are already in talks with these countries and hope to make government-to-government arrangements so that whenever market prices of pulses rise the government is able to infuse its stocks in the market to stablise the prices,” she added.

On the rising food prices, she said that India would continue to face inflation of seasonal perishables foods for a long time. “At the moment the prices of tomato are very high and onion are low. This effectively means that the onion farmers are not getting their due,” she added.

Read: We respect Raghuram Rajan’s decision: Sitharaman

Comments

Other News

Deep history of our languages show who we Indians are

Discovering India Anew: Out of Africa to Its Early History (Second Edition) By Alan Machado (Prabhu) Orient BlackSwan, 356 pages, Rs 750

Polling concludes for J&K assembly

The polling for the Jammu & Kashmir legislative assembly elections concluded on Tuesday in a peaceful and celebratory atmosphere. Scenes of voters patiently waiting in lines at polling stations, set against the scenic backdrop of the region, highlighted the people`s strong faith in democracy. The festi

Advancing green growth via bio-manufacturing and bio-foundry initiative

In the ongoing problem of facing environmental challenges, the call for sustainable practices has become more pressing than ever. Nations have started to strive to reduce their carbon footprint and mitigate the adverse effects of industrialization, innovative solutions are imperative. Unfortunately, due to

ECI reviews poll preparedness in Maharashtra

Ahead of the assembly elections in Maharashtra, chief election commissioner Rajiv Kumar and two election commissioners, Gyanesh Kumar and Sukhbir Singh Sandhu met all the stakeholders including political parties and officials during their two-day visit to the state. The term of the current a

Sanjay Raut gets bail relief after conviction in defamation case

A metropolitan magistrate court in Mumbai Thursday sentenced Sanjay Raut, Shiv Sena (UBT) MP and editor of party mouthpiece, ‘Saamna’, to 15 days imprisonment and imposed a fine of Rs 25,000 in a case filed by Medha Somaiya, wife of BJP leader Kirit Somaiya. Judicial magistrate A

Mahayuti alliance needs to work on winnability: Fadnavis

Maharashtra deputy chief minister Devendra Fadnavis has said that the Mahayuti government has reached a consensus for 80% seats to be contested in the upcoming assembly elections and discussions for remaining 20% seats are on. Speaking at the India Today Conclave in Mumbai, Fadnavis said that the alliance