The retail and wholesale prices of wheat and rice reported a decrease and prices of wheat atta remained stable during last week.
During last two years prices of wheat and rice has gone up more or less corresponding to the MSP increase during the relevant years. During 2021-22 the prices were comparatively on lower side because approximately 80 LMT of food grains were offloaded in the open market through OMSS to contain the prices.
Government of India is regularly monitoring the price scenario of essential commodities including wheat and rice and taking corrective measures, wherein required.
Because of the unprecedented geo-political situation, procurement remained bit on a lower side therefore, Govt of India had not intervened in the market through OMSS so far. However, Govt. of India is well aware of the prices scenario and monitoring it regularly on weekly basis. Govt. has taken proactive steps to avoid any further price rise and export regulations were imposed in case of wheat w.e.f 13.05.2022 and w.e.f 08.05.2022 in case of rice. Thereafter, there was a immediate containment in the prices of wheat and in case of rice.
In order to contain the prices and to avoid any hardships to the vulnerable sections of the society, Govt of India has extended Pradhan Mantri Garib Kalyan Ann Yojana (PMGKAY) for another three months (Phase VII) from Oct 2022 to Dec 2022 to ensure that poor and needy of the country do not face any hardship during the forthcoming festival season and to keep them immune from the adverse forces of the market.
Government of India has ensured that sufficient stock of food grains to meet the requirement of National Food Security Act (NFSA), other welfare schemes and additional requirements of PMGKAY are available in the central pool and prices remains under control.