July 3, 2014 10:08 AM

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Govt puts stock limits on Onions, potatoes

The government has decided to bring onion and potato in the purview of stock holding limits under the Essential Commodities Act. This will empower the States to undertake de-hoarding operations and control prices of onions and potatoes. The stock limit will be fixed by the state governments. A decision in this regard was taken at a meeting of Cabinet Committee on Economic Affairs in New Delhi last evening.Briefing reporters after the meeting, Law Minister Ravi Shankar Prasad said notification will be issued today and will remain in force for a year. He said the Centre expects States to take firm and effective measures to enforce stock holding limit on the two items. He said said the country has sufficient stock of onion and potatoes but the prices are increasing due to hoarding.Mr. Prasad said the CCEA has also approved additional allocation of 50 lakh tonnes of rice for distribution to Below Poverty Line and Above Poverty Line families. The allocation is for the period from July 2014 to March 2015 or till implementation of the National Food Security Act by the concerned States.The Cabinet Committee on Economic Affairs also approved the continuation of the Plan scheme to modernise and strengthen Intellectual Property Rights offices during the 12th Plan with the cost of over 309 crore rupees. It will strengthen the Office of the Controller General of Patents, Designs and Trademarks and address the increase in the number of fillings of Intellectual Property Rights applications.

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