The government has decided to invoke the 500 crore rupee Price Stabilisation Fund aimed at reducing the cost of imported pulses. The fund will be used for transportation, handling, milling and processing. The decision came after the pulses prices peaked to 180 to 190 rupees per kg in retail market across the country. According to the Consumer Affairs Ministry, the retail prices of tur dal yesterday rose up to 181 rupees per kg which is much higher than the cost of chicken in most parts of the country, as against 85 rupees per kg in the same period of last year. Union Finance Minister Arun Jaitley headed the inter-ministerial group meeting in New Delhi yesterday and reviewed the price situation of pulses. Talking to reporters after the meeting, Mr Jaitley said to deal with supply crunch, the government has also decided to create a buffer stock of lentils mainly through imports. He said, more quantity for the next few days will also be imported into the country so that the supply side problem can be taken care of which will have an impact on prices. The Finance Minister also asked the state governments to lift stock of pulses lying at ports like Jawaharlal Nehru Port near Mumbai.
News On AIR | October 15, 2015 8:20 AM
Govt to use stabilisation fund to control pulses price: Jaitley