CCEA approves enhancing the buffer stock of pulses up to 20 lakh tonnes

The Cabinet Committee on Economic Affairs (CCEA) has approved enhancing the buffer stock for pulses up to 20 lakh tonnes.

The proposal in the regard was forwarded by the Department of Consumer Affairs under the Union Ministry of Consumer Affairs, Food and Public Distribution.

Key Facts

  • The buffer stock will be built through domestic procurement and imports of 10 lakh tonnes each.
  • Depending upon price and availability position both domestic and global the specific variety of pulses and their respective quantities for the buffer stock will be decided.
  • Releases from the stock and procurement would be based on the prevailing pulse scenario as well as buffer stock position in subsequent year.
  • Requisite funds for this operation will be provided to the ‘Price Stabilisation Fund’ Scheme of the Department of Consumer Affairs.
  • For creating the buffer stock, domestic procurement operations will be undertaken by the Central Agencies viz. FCI, NAFED and SFAC or any other agency as decided by PSFMC.
  • This procurement will done at the prevailing market prices if these prices are above Minimum Support Prices (MSP) and at MSP, if otherwise.
  • In addition, State Governments will be also authorized to undertake the procurement in a manner similar to decentralized procurement of food-grains.
  • Import of pulses would be undertaken through G2G contract or through spot purchase from the global market through designated Public Sector Enterprise.

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Categories: India Current Affairs 2017

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