Zee Media Bureau
New Delhi: The Cabinet Committee on Economic Affairs (CCEA) on Wednesday agreed to bring onion and potato under the Essential Commodity Act in a move to impose stock holding limits and curb hoarding of these two commodities and control their prices.
Addressing the press, Law Minister Ravi Shankar Prasad informed that onion and potato would come under stock holding limit for a period of one year.
He also said the government has to work with states to bring down prices and called on state governments to decide on stock limit of these two commodities.
States have been told to crack down on hoarders, the Law Minister said.
Currently, stock limits are imposed for pulses, edible oils and oilseeds till September 2014, while for rice and paddy upto November this year.
The move, aimed at controlling the rising price so of the commodities, comes after the government on Wednesday raised the export prices of onion by 67 percent to USD 500 per tonnes to augment domestic supply and curb price rise.
The cabinet discussed a lot on lowering the prices of these essential commodities, Ravi Shankar Prasad said.
He also informed that notification of the stock limit of onion and potato will be made known by Thursday.
