Open Market Sale Scheme (Domestic)
On 1st August, 2024, the union Government allowed state governments to directly buy rice from the Food Corporation of India (FCI) without participating in e-auction under the Open Market Sale Scheme (Domestic).
- In June 2023, the Union Government discontinued the sale of rice and wheat from the central pool under the Open Market Sale Scheme (OMSS) to state governments.
Reason behind the Move
- The decision has been taken to reduce the huge surplus stocks at FCI godowns prior to the new procurement season.
Price Revision
- If the States wanted to procure more rice over the stipulated five kg of free grain ....
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 India Lists First Mortgage-Backed Pass Through Certificates on NSE
- 2 Bond Forward in G-Secs
- 3 4th Phase of Consolidation of Regional Rural Banks
- 4 SIDBI’s Report on MSME Sector
- 5 Pradhan Mantri Formalisation of Micro Food Processing Enterprises Scheme
- 6 RBI’s Surplus Transfer: A Catalyst for India’s Economic Growth
- 7 RBI’s Digital Lending Directions 2025
- 8 RBI Recognises FIMMDA as SRO
- 9 MSP for Jute
- 10 Expansion of the Credit Guarantee Scheme for Startups