Consumer price inflation has been over 7% since April, and had eased slightly to 7.01% in June.
Consumer price inflation has been over 7% since April, and had eased slightly to 7.01% in June.
With tur dal prices surging since mid-July and reports of artificial supply squeeze by some traders restricting sales, the Center has issued the Essential Commodities Act to ask states to monitor and verify the stock available with such traders. 1955 came into force.
Turmeric prices have increased since mid-July amid slow progress in kharif sowing compared to last year due to excess rainfall and water-logging conditions in parts of major tur growing states of Karnataka, Maharashtra and Madhya Pradesh, Consumer Affairs The department has noted its justification for the direction.
“On top of adequate availability of pulses in the domestic market, the government currently has about 38 lakh tonnes of pulses, which are being released in the market to further augment the available stock,” the department said. It is closely monitoring the overall availability and prices of pulses in the domestic and overseas markets to take pre-emptive steps in case there is any unreasonable price hike in the upcoming high demand festival months.
States and Union Territories have also been asked to direct the ‘Stockholder Entities to upload the data of stock held by them’ on a weekly basis on the online monitoring portal of the Department of Consumer Affairs. The government expects the move to rein in attempts by certain sections of traders and stockists to push the prices of tur dal upwards by resorting to ‘restricted sale’ and creating artificial shortage.