Concerned over the surging prices of essential commodities, the Government on Thursday banned export of pulses, allowed private players to import wheat and limited import of sugar.
NEW DELHI: Concerned over the surging prices of essential commodities, the Government on Thursday banned export of pulses, allowed private players to import wheat and limited import of sugar.
State governments are also urged to take adequate steps against hoarding if it is taking place, Fiance Minister P Chidambaram told reporters after Cabinet Committee on Pricing met here.
"Wheat, pulses and sugar are driving prices up, therefore, the decision has been taken to augment the supply side. We are confident, that with these decisions, inflationary expectations will be dampened," Chidambaram said.
He said inflation relating to manufactured products is extremely low.
Reasons behind inflation relating to fuel are well known, he said.
Chidambaram said the Cabinet Committee on Prices held detailed discussions with the agriculture and other related ministries about the prevailing situation.
"Decision has been taken to import adequate quantity of wheat and some qualities have already been contracted," he said, adding the government has not compromised on quarantine norms.
He said a decision has been taken that the Codex norms would be adhered to while importing wheat.
The minister said the Codex is an internationally accepted norm and "there is no dilution in it"
He said global bids have been received for additional wheat import and they would be finalised shortly.
Chidambaram said besides the designated canalising agency for wheat import STC, the government has also decided to allow private sector to import wheat.
This is to provide for the flour mills requirements, he said, adding the details including the level of duties would be announced shortly.
As far as pulses is concerned, he said the government has decided to hold up any further exports from the country.
"The export of pulses will be halted with immediate effect," he said.
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