Indian government planning to sell FCI rice under Bharat brand
To relieve the double-digit inflation in rice, the Indian government recently declared the sale of rice under the Bharat brand at Rs 25 per kilogram.
This will be sold through the National Agricultural Cooperative Marketing Federation of India (Nafed), National Cooperative Consumers’ Federation (NCCF) and Kendriya Bhandar outlets, reported The Economic Times.
Under the brand, the Indian government already sells atta and pulses.
Cereal prices in November rose to 10.27% pushing the food inflation to 8.70% in November, against 6.61% reported the previous month. Food inflation accounts for nearly half of the overall consumer price basket, the newspaper reported.
While the government has been able to tame rising wheat prices by increasing the amount it offloads in the open market via e-auctions done by the Food Corporation of India (FCI), the offtake of rice has been minimal.
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
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