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.
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