pulses To bring down prices of pulses, the government has warned traders that those found involved in futures trading of pulses will be dealt with strictly under the provisions of the Essential Commodities Act. Consumer Affairs Department Secretary Nidhi Khare gave this message to traders during her interaction with representatives of the pulses industry to conduct online stock monitoring from April 15, an official statement issued on Saturday said.
Emphasis on reducing the price of pulses
The government is also arranging for more import of pulses from Myanmar to reduce prices in the domestic market. The government is taking several steps to control food inflation. As a result, CPI inflation fell to a nine-month low of 4.85 percent in March. The rise in prices of pulses has slowed down, but it still stands at 17.7 per cent. Nidhi Khare also discussed issues related to import of pulses from Myanmar with the Indian Mission in Yangon. The Indian Mission informed that the Rupee-Kyat Settlement Mechanism has been operationalized from January 25, 2024 to simplify trade transactions and make them more efficient.
Stockists will have to provide stock information
Importers, millers, stockists, retailers etc. have been asked to declare their stocks of pulses, including imported yellow peas, on the portal on a weekly basis from April 15. The Central Bank of Myanmar issued guidelines for payment procedures under the Special Rupee Vostro Account (SRVA) on January 26 this year. The new mechanism will be applicable to both sea and border trade and trade in goods as well as services. Adoption of the mechanism by traders will eliminate complications related to currency exchange rates.
Input: IANS
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