Business News | Govt to Start Portal to Monitor Pulses Stock from April 15
Get latest articles and stories on Business at LatestLY. According to Ministry of Consumer Affairs, Food and Public Distribution, the importers and traders of pulses have been instructed to accurately declare their stocks of pulses, including imported Yellow Peas, every week.
New Delhi [India], April 13 (ANI): The government is going to start an online portal from April 15 to monitor the availability of the stock of pulses.
According to Ministry of Consumer Affairs, Food and Public Distribution, the importers and traders of pulses have been instructed to accurately declare their stocks of pulses, including imported Yellow Peas, every week.
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Secretary of the Department of Consumer Affairs, Nidhi Khare, conducted a series of meetings with stakeholders in the pulse industry to review the availability of pulses and discuss import-related issues.
During the meeting, discussion was also held on inputs from market intelligence sources regarding the stock position held by various market players. The government ensures that strict action will be taken against the forward trading of pulses.
This states that during the meeting issues regarding pulses imports from Myanmar were also discussed. The Indian Mission informed about the operationalization of the Rupee Kyat Settlement Mechanism, which aims to streamline trade transactions and enhance efficiency.
Under this mechanism, traders are encouraged to utilize the Rupee/Kyat direct payment system through the Special Rupee Vostro Account (SRVA) via Punjab National Bank, thereby reducing costs associated with currency conversions and eliminating complexities related to exchange rates.
During the meeting, the States and Union Territories have been urged to enforce weekly stock disclosure by all stockholding entities and verify the declared stocks accordingly.
Earlier on Thursday also the States and UTs were apprised of the need for increased vigilance over the stock position and price trends in respect of pulses to prevent hoarding and market manipulation.
India is a large consumer and grower of pulses and it meets a portion of its consumption needs through imports. India primarily consumes chana, Masur, urad, Kabuli chana, and tur. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)