Union Government allowed states to control stock limits on sugar to check price rise

Posted on:28 Apr 2016 14:14:14
Union Government allowed states to control stock limits on sugar to check price rise
28 April 2016 Current Affairs: The Union Cabinet chaired by the Prime Minister Narendra Modi on 27 April 2016 approved to bring sugar under the purview of imposing stock holding limits on dealers of sugar by the state governments. It was to check the price rise in sugar.The Government identified that despite having sufficient sugar stocks with the Sugar Mills, the wholesale and retail prices have shown a rise.

Government felt an immediate need to bring sugar within the purview of stock limits in order to check the inflationary tendencies in sugar and to reduce hoarding by wholesalers and retailers.The Government has taken stock of the availability of sugar and different factors contributing to rise in market prices of sugar across the country and decided to allow states to put stock holding limits on sugar

The decision empowered State and Central agencies to impose stock limits and regulate supply, distribution, storage and trade of sugar to bring down sugar prices at reasonable level by curbing unscrupulous trading.

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