Government to Sell off 5 Lakh Tons of Buffer Stock of Pulses by March 2018

Government to Sell off 5 Lakh Tons of Buffer Stock of Pulses by March 2018

The food minister Ram Vilas Paswan has announced to sell off about 5 lack tones of buffer stock of pulses at comparatively lower rates to 5 states and for central welfare schemes like the midday meal program. This piece of share comes from the total pulses stock of 18 lakh tones. For the very first time, the government of India has decided to keep aside a buffer stock of pulses so as to ensure better prices to farmers as well as use this stock as an aid to local supply at the times of inflation. Around 20 lakh tones of buffer were created through imports & local consumption.

Thanks to CCCEA (Cabinet Committee on Economic Affairs) for giving approval to distribute a part of pulses to welfare schemes such as Midday meal & few other agencies. As per the recent reports, the government will help clear the stock of 3-5 lakh tones of pulses from the whole stock by the end of this fiscal year. At present, the pulses are provided at a subsidized rate to the state government via ration shops. The welfare schemes like the one mentioned above are being implemented by the ministries to fulfill the optimum pulses requirement. In fact, Midday Meal scheme alone is expected to require about 5 lakh tones of pulses annually and about 3 lakh tones for anganwadis. In the next fiscal year, 8 lakh tones of pulses are expected to be disposed of, out of the buffer stock.

These measures will collectively offer huge advantage in the long-term. It will not only be of great help to farmers but also curb the price differences at times of price rise. India may see a better growth in agriculture & overall economy in the coming times once these kinds of schemes are properly implemented.

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