Centre operationalises portal for online declaration of rice, paddy stock
Units that are not registered on the portal or that violate stock limits will face action under Sections 6 and 7 of the Essential Commodities Act, 1955
The Indian government has launched an online portal for entities such as traders, retailers, wholesalers, processors, and millers to declare their paddy and rice stock. This initiative aims to curb hoarding and price inflation, which have been exacerbated by deficient rainfall and uneven distribution. Entities must update their stock details on the Food Stock Portal every Friday, and those exceeding prescribed limits will face penalties under the Essential Commodities Act, 1955.
The government is also allocating additional rice stocks to NAFED, NCCF, and Kendriya Bhandar for sale as Bharat Rice and has doubled the target for e-auction sales of rice under the Open Market Sale Scheme.
Brief written by urgent.news from The Hindu's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
