HomeBusinessGovt launch ‘Bharat Rice’, subsidized rate of ₹29/kg

Govt launch ‘Bharat Rice’, subsidized rate of ₹29/kg

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Centre launches 'Bharat Atta' at Rs 27.5/kg ahead of Diwali; where can you  buy it - BusinessToday
  1. The government has launched ‘Bharat rice’ at a subsidized rate of ₹29 per kg to alleviate the burden on consumers amidst a 15% increase in retail prices of rice last year.
  2. Food and Consumer Affairs Minister Piyush Goyal announced the launch of the subsidized rice, available in 5 kg and 10 kg packs, with the aim of ensuring affordability for common people.
  3. The initiative falls under the price stabilization fund (PSF), aiming to address retail intervention where wholesale efforts were not adequately benefiting consumers.
  4. ‘Bharat rice’ joins the existing ‘Bharat’ brand offerings, including subsidized wheat and chickpea (chana), aimed at providing relief to middle-class and poor consumers.
  5. The government’s interventions have led to a notable reduction in the prices of commodities like tomato and onion, with wheat inflation at zero since the introduction of ‘Bharat atta’.
  6. 100 mobile vans have been flagged off to sell ‘Bharat rice’ across the country, with the Food Corporation of India (FCI) providing 500,000 tonnes of rice to various agencies for retail sale.
  7. Initially, the rice will be available through cooperatives like Nafed, NCCF, and Kendriya Bhandar, packed in 5 kg and 10 kg packs, and sold through their outlets and e-commerce platforms.
  8. The government aims to expand the retail points to nearly 18,000, up from the existing 8,000-9,000, including mobile vans and e-commerce sites.
  9. The launch of ‘Bharat rice’ follows the lukewarm response to the open market sale scheme (OMSS), prompting retail sale of FCI rice.
  10. The government expects a positive response to ‘Bharat rice’, similar to that received for ‘Bharat atta’ and ‘Bharat chana’, which are already being sold through similar channels.
  11. Minister Goyal shared his personal experience of using ‘Bharat dal’ and ‘Bharat atta’, expressing confidence in the quality of ‘Bharat rice’.
  12. The move comes amidst concerns raised by the Reserve Bank of India regarding a potential resurgence in food inflation, prompting the government to take measures to control prices.
SourceMint

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