Union Government allows states to put stock holding limits on sugar

The Union Government has decided to allow States to impose and enforce stock limits on sugar in order to check the the price rise of sweetener in the market.
The decision to bring sugar under the purview of stock holding limits on dealers of sugar was taken in Union Cabinet meeting chaired by Prime Minister Narendra Modi in New Delhi.
It will empower State and Central Government agencies to impose stock limits and regulate supply, storage, distribution and trade of sugar in order to bring down sugar prices at reasonable level by curbing unscrupulous trading.
Government has brought sugar within the purview of stock limits in order to check the inflationary tendencies in sugar and to reduce hoarding by wholesalers and retailers.
In recent times, Union Government had noticed that the wholesale and retail prices of sugar have shown a spurt in spite of sufficient availability of sugar stocks with the Sugar Mills.

Month: Current Affairs - April, 2016