general public Worried about rising inflation. All food products have increased rapidly. Due to this, the family budget of common people is being ruined. Now the government has made a big announcement to alleviate the rising inflation. The government on Thursday announced that it will sell 25 lakh tonnes of FCI wheat to domestic consumers in bulk by March 2025 to curb food inflation. Experts say this government move will reduce the prices of wheat products, which will directly benefit the general public. The wheat will be sold under the government’s Open Market Sales Scheme (OMSS) initiative. It is managed by the government-owned Food Corporation of India (FCI) and controls supply and prices.
Wheat will be sold through electronic auction
The reserve price of wheat under the WHOS has been fixed at Rs 2,325 per quintal for medium and fair quality (FAQ) grains and Rs 2,300 per quintal for URS grains (slightly lower quality), the Ministry of Agriculture said. Food in a statement. The wheat will be sold to private companies, including flour mills, wheat product manufacturers, processors and end users, through e-auction until March 31, 2025. However, the government did not inform about the start date of the sale of wheat. FCI wheat to bulk consumers. Last year, FCI sold over 10 lakh tonnes of wheat to bulk users under OMSS.
There was a jump in retail inflation in October
Retail inflation surpassed a 14-month high in October. Retail inflation rose to 6.21% in October due to higher food prices. In the last month, that is, in September, the figure was 5.49 percent. This is mainly due to the increase in food prices. Thus, retail inflation has surpassed the satisfactory level of six per cent set by the Reserve Bank of India (RBI). In the same month last year, inflation based on the Consumer Price Index (CPI) was 4.87 percent.
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