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Onion price hike has made the governments embarrassed if not alerted timely. We have several instances in the past governments losing in the elections merely for failing to control this essential product price. Now also, the onion prices gradually shooting up in the domestic markets despite adequate production and supplies. Currently, the onion price in domestic market is around Rs.32-35 per Kg. Unlike UPA government, Modi government immediately swings into action to control the prices of onions and potatoes before it is too late.
This issue has been discussed by the Cabinet Committee on Economic Affairs (CCEA) led by Prime Minister Narendra Modi and chalks out multiple action plans to control the prices. Firstly, the committee has decided to bring onions and potatoes under Essential Commodities Act, 1955 for one year period. A G.O. will be issued on Thursday for this purpose. The minimum export price of onions per tone was $ 3oo. Now it was increased to $ 500 per ton to stop outflow. The committee also decides to fix upper limit for maintaining the stocks of these two products by the whole sale dealers in the country, so as dealers can’t create artificial shortage. However, the state governments will have the choice to decide the upper limits permissible, depending on the local market supplies and prices. The committee empowers the state governments to undertake de-hoarding operations and control the price of onions and potatoes.
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