The central government on Monday issued an order imposing stock limits on wheat in order to effectively manage the overall food security and to prevent hoarding and unscrupulous speculation. This will be applicable to traders, wholesalers, retailers, big chain retailers and processors for all states and Union Territories, according to the Department of Food and Public Distribution (DFPD) release on Monday. This will, as per the current order, remain imposed for the current financial year till March 31, 2024.
Food Secretary Sanjeev Chopra on Monday said the government has imposed stock limit on wheat to check prices. According to the order, the stock limit on wheat for processors has been fixed at 75 per cent of annual installed capacity or quantity equivalent to monthly installed capacity multiplied by the remaining months of 2023-24, whichever is less.
Meanwhile, Meanwhile, India’s retail inflation dropped to 4.25per cent in May from 4.7 per cent in April, according to a data from the Ministry of Statistics and Programme Implementation on Monday. The consumer price-based index (CPI) inflation in May is lowest in 25 months. The food inflation also eased to 2.91 per cent in April. It was 3.84 per cent in the month of April. The food basket accounts for nearly half of the CPI. While, inflation in fuel and light also eased to 4.64 per cent, from 5.52 per cent in April.
While India’s industrial production grew by 4.2 per cent in April, according to a data released by the NSO on Monday. At 4.2 per cent, the latest industrial growth figure as per the Index of Industrial Production (IIP) is significantly higher than that for March, when it had come in at a five-month low of 1.1 per cent. That number has now been revised to 1.7 per cent. IIP growth was 6.7 per cent in April 2022.