Jaitley asks states to crack down on hoarders to check prices

The host of measures to tame inflation, which had soared to a five-month high of 6.01 percent in May, was taken at a high-level meeting of Ministers and Secretaries called by
Finance Minister Arun Jaitley.

Among other measures, the Centre asked the states to delist fruits and vegetables from the Agricultural Produce Market Committee list, allowing farmers to sell their produce directly in the open market, and imposed a minimum export price of USD 300 per tonne on onions to curb their exports.

The Commerce Ministry has been asked to come out with a similar measure for potatoes.

The government has also decided to release an additional 50 lakh tonnes of rice to states for sale in the open market at APL (above poverty line) rate of Rs 8.30 per kg and allowed states to directly import pulses and edible oils to meet shortages.

The meeting also reviewed the steady increase in the retail price of milk and took a decision to consider withholding export incentives currently in force...

Read more Latest News from Business News