The NDA Government which puts upliftment of the poor as its topmost priority has been very proactive when it comes to tackling inflation. Not only were the prices monitored actively, but effective measures were put in place to mitigate rising prices.
Keeping in mind the burden of inflation on common man the Government has shown much needed alertness to anticipate and react to seasonal rise in prices of essential commodities. Imposition of Minimum Export Price (MEP) on Onion and Potato has sent the right signal for checking the rising prices, resulting in much relief to common man. Government also conveyed its seriousness to tackle hoarding by taking States on board.
Further, Ten Million metric ton food grains have been released in open market to contain the prices. States have been advised to introduce stock limits for onion and potato to check hoarding and to keep fruit and vegetables out of APMC Act, in order to contain prices of essential food items.
Amendments to Essential commodities Act and Prevention of Black Marketing Act have been proposed to deter hoarding and black marketing by making them a non bailable offence and increasing the period of detention. Additionally, a Market intervention fund with a sum of Rs. 500 crore is also being set up to protect the farmers from price volatility and to contain prices.
