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Measures announced to control inflation

Posted by Sara | Business Quotes | Thursday 27 January 2011 11:53 pm
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Measures announced to control inflationThe government of India has announced a slew of measures for controlling prices of essential commodities.

Some of the measures are stringent actions against hoarders and black marketers and import and export of all essential commodities to be reviewed on a regular basis.

From in.finance.yahoo.com:

– State units to intensify purchases of essential commodities, particularly edible oils and pulses, for distribution through their retail network

— Existing schemes for subsidised distribution of edible oils and pulses to be continued

— Exports of edible oils and pulses, as well as non-basmati rice to remain banned

— Committee of Secretaries under the Cabinet Secretary to review the prices situation with individual states

— An inter-ministerial Group set up under the Chief Economic Adviser, Ministry of Finance to review the overall inflation situation

— State Governments to be urged to consider waiving mandi tax, octroi and other local levies to bring down prices further

— A scheme to support the state governments in the setting up of farmers’ mandis and mobile bazaars and to improve the functioning of civil supplies corporations and cooperatives

In addition to these, the government is expected to encourage investements in supply chains including provisions for cold storages and increase storage capacities and promoting awareness campaigns.

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