Open Market Sale Scheme
On 13th June, 2023, the Centre discontinued the sale of rice and wheat from the central pool under the Open Market Sale Scheme (OMSS) to state governments.
- However, the sale of rice under the OMSS will be continued for northeastern states, hilly states and states facing law and order situations, natural calamities at an existing rate of Rs 3,400 per quintal.
Reasons for Discontinuation
- To control price inflation
- To ensure price stability
- To balance stock levels
- To streamline distribution channels
- To promote market competition
About Open Market Sale Scheme (OMSS)
- Under OMSS, the Food Corporation of India (FCI) sells surplus stocks of wheat and rice ....
Do You Want to Read More?
Subscribe Now
To get access to detailed content
Already a Member? Login here
Take Annual Subscription and get the following Advantage
The annual members of the Civil Services Chronicle can read the monthly content of the magazine as well as the Chronicle magazine archives.
Readers can study all the material since 2018 of the Civil Services Chronicle monthly issue in the form of Chronicle magazine archives.
Economy Watch
- 1 Dinesh Khara Committee
- 2 Bond Central
- 3 Grameen Credit Score: A New Chapter in Rural Finance
- 4 Expansion of e-NAM Platform
- 5 RBI Survey on Farmer’s Share of Consumer Prices
- 6 New Maritime Initiatives to Enhance India’s Global Trade
- 7 Tobin Tax
- 8 SEBI Proposes Fast-Track Follow-On Offers for REITs & InvITs
- 9 Sustainability and Circularity in Dairy Sector
- 10 Revised Guidelines for Market Intervention Scheme
