Department of Consumer Affairs, Government of India, has included 16 additional commodities under Price Monitoring from 1st August, 2024, said Union Minister of Consumer Affairs, Food and Public Distribution & New and Renewable Energy, Pralhad Joshi, while launching the Version 4.0 Price Monitoring System (PMS) Mobile App here today. Already 22 commodities were being covered under monitoring of daily prices. Now, price of total 38 commodities will be monitored.
The Department has been monitoring the daily prices from 550 centres across 34 States/UTs. The price data monitored by the Department provides advance inputs for policy decision for the Government, RBI and analysts regarding the CPI inflation. The 38 commodities constitutes close to 31% of the total CPI weights as against 26.5% of CPI weights captured by the 22 commodities. The newly added 16 items included are Bajra, Jowar, Ragi, Suji (wheat), Maida (wheat), Besan, Ghee, Butter, Brinjal, Egg, Black Pepper, Coriander, Cummin seed, Red chillies, Turmeric powder and Banana.
The increase in coverage of food items under daily price monitoring will play a crucial role in policy interventions to stabilise price volatility in food items and to control the overall inflation. This initiative further reflects the Government’s commitment to addressing the issues of availability and affordability of essential commodities to the consumers.
Government of India has, in recent past, taken series of measures to contain food price inflation. These includes providing Bharat Chana Dal at Rs.60 per kg; Bharat Atta at Rs.27.50 per kg and Bharat Rice at Rs.29 per kg to the retail consumers. NCCF has started retail sale of Tomatoes to retail consumers at Rs.60 per kg from 29th July, 2024. To prevent hoarding, stock limits are imposed on Tur and Desi Chana from 21st June 2024 till 30th September 2024. Import of pulses including Tur, Urad, Masur, Yellow Peas and desi Chana at zero duty has been allowed to augment domestic supply. Buffer stock of 5 LMT is being built to for release during the lean months to ensure availability and affordability.
Price control measures taken by the Central Government together with robust progress in sown area under Kharif pulses this year (2024-25) have stabilised the market and the prices of Chana, Tur and Urad in major mandis had declined by up to 4% in past one month. The declining trend in mandi prices are now reflected in retail prices in recent weeks as the all-India average retail prices of pulses have declined on week-on-week basis.
(Source: PIB)
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