The Centre is planning to release half a million tonnes of rice to government agencies to be made available to consumers at discounted prices amid soaring inflation in the run-up to general elections.
The subsidized Bharat Chawal, a government brand, will be offered to National Agricultural Cooperative Marketing Federation of India (Nafed), National Cooperative Consumers' Federation of India (NCCF) and Kendriya Bhandar at 24 per kg under the open market sales scheme (OMSS), two officials aware of the development said This could be then sold at 29 a kg to consumers, they added.
The all-India average retail price of rice has touched 43.50 per kg, an increase of 14% from a year ago, according to the consumer affairs ministry.
Esta historia es de la edición January 05, 2024 de Mint Mumbai.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición January 05, 2024 de Mint Mumbai.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
Transforming leaders of today and tomorrow for far-reaching changes that lie ahead
Egon Zehnder works closely with Boards as well as leaders, helping them find their unique voice and uncover the potential they might not otherwise recognize
Ex-Orios partners launch $75 mn fund
Anup Jain and Rajeev Suri, former managing partners of Orios Venture Partners, have launched a $75 million fund to back a mix of early and late-stage startups in fintech, climate and sustainability and consumer-driven B2C startups under their new investment vehicle—Blue Green Ventures.
NoBroker morphing into financial services company
NoBroker gets a fourth of its over ₹600 crore revenue from its financial services business
India in top 10 globally for patents, trademarks and industrial designs
India now ranks among the top 10 countries globally in the number of patents, trademarks and industrial design applications, according to the World Intellectual Property Organization's (WIPO) 2024 report on IP trends.
63 businesses find debt resolution in Q3
In the eight years since IBC came into force, 1,068 companies have been pulled back from insolvency
Centre asks states to list power utilities
Power minister Manohar Lal said ₹42 trillion of investments are required in the sector by 2030
Goods exports in Q3 may hit $107.5 bn
India's merchandise exports are likely to rise 1.85% year-on-year to $107.5 billion in the third quarter of FY25, according to India Exim Bank.
NFRA board revises all audit norms despite ICAI dissent
The matter of audit revision dates back to the 2009 Satyam Computers scandal
India aims to lift air cargo to beat Red Sea bump
India's commerce ministry is pitching for air cargo to ship products such as pharmaceuticals, textiles, electronics and perishables that rely on swift delivery as disruption in the Red Sea trade route has increased freight costs, two people aware of the development said.
Zepto eyes $250 mn from HNIs, wealth cos at flat valuation
Quick commerce startup Zepto is looking to raise about $250 million from high-net-worth individuals and wealth management firms, including Motilal Oswal, IIFL and InCred, at a near-flat valuation of $5 billion, three people familiar with the matter said.
