Center’s Move to Address Rice Prices 25 Rupees
The central government has reportedly made a crucial decision to tackle the escalating rice prices in the country. This decision involves subsidizing ‘Bharat Rice’ at Rs.25 per kilo as part of efforts to manage the increasing costs of essential food items, especially with the upcoming general elections.
Rising Retail Prices
Despite this initiative, the average retail price of a kilo of rice nationwide is currently Rs.43, reflecting a 14.1% increase from the previous year. To counter this, the Center aims to introduce ‘Bharat Rice’ to provide affordable options for consumers.
Distribution Channels
The subsidized rice will be made available through various government agencies, including the National Agricultural Cooperative Marketing Federation of India (NAFED), National Cooperative Consumers Federation of India Limited (NCCF), Kendriya Bhandar Outlet, and mobile vans.
‘Bharat’ Branding Strategy
This move follows the government’s existing strategy of selling pulses and wheat flour under the ‘Bharat’ brand at subsidized prices. Presently, wheat flour is priced at Rs.27.50 per kilo, and chickpeas are sold at Rs.60 per kilo, distributed through more than 2,000 retail points. The introduction of ‘Bharat Rice’ is expected to follow a similar distribution approach, although no official announcement has been made.
Additional Measures to Control Rice Prices
Recent measures taken by the government include a ban on non-basmati rice exports and the enforcement of restrictions on basmati rice exports, particularly those priced below $1,200 per tonne. These steps collectively aim to curb the rising prices of rice in the country.