Business Standard
Monday, Nov 23, 2009
 
drived banner
drived banner
  Advanced Search
Feedback | RSS
Content Guide
Follow us on  
||||Economy & Policy||||| 
 Section Home | News Now | Today's Paper | Features & Analysis | Politics & Public Affairs | Q&A | Columnists | BS Says
Home > Economy & Policy Live Markets | Smart Portfolios II
  Search:

India to raise buffer norm on record purchase of foodgrains
Press Trust of India / New Delhi May 27, 2009, 14:39 IST

The government will raise the buffer norms for rice and wheat in a month's time to maintain food security following record procurement of foodgrains, which is expected to be about 565 lakh tonnes this year.

"The buffer norms will be revised upwards and a technical group has been entrusted with the task," a top government official said here today.

Without disclosing how much quantity will be raised, the official added that the new norms would be ready in a month.

Buffer norms are the minimum foodgrains the Centre should have in the Central Pool at the beginning of each quarter to meet requirement of public distribution system and other welfare measures.

The government has not changed the buffer norm of both rice and wheat since April 2005.According to the norm, the minimum rice in the Central Pool should be 118 lakh tonnes on January 1, 122 lakh tonnes on April 1, 98 lakh tonnes on July 1 and 52 lakh tonnes on October 1.

Similarly, the quantity of wheat should be 8.2 million tonnes on January 1, four million tonnes on April 1, 17.1 million tonnes on July 1 and 11 million tonnes on October 1.

The government also hopes that procurement of wheat and rice will be 24 million tonnes and 31 million tonnes this season. With 1.5 million tonnes of coarse grains such as jowar and bajra, the total foodgrain purchase by the Centre could reach 56.5 million tonnes, the official said.The government had earlier asked the National Centre for Agricultural Economics and Policy Research (NCAP) to study the buffer norm and make recommendation on increasing it if the demand has gone up.

The technical group is also studying the report of NCAP, the official said.

According to the report, demand for rice and wheat under the public distribution system has gone up which is evident from the rising offtake of the grains from allocations made by the Centre in the last 2-3 years.

Since demand has increased and procurement is also at an all time high, the buffer norm should be revised, a food policy expert said.

Rice procurement, which began on October 1, till date has reached an all time high of 29.23 million tonnes.The purchase programme for 2008-09 season would continue till September this year.

Wheat procurement, that started on April 1, stands at record 23.49 million tonnes as on today this season. The procurement will end in June 30, unless extended. 

Arrow Other Stories     
- Sensex makes remarkable recovery, regains 17K
- L N Mittal doubles his stake in Ophir Energy
- Indian handicraft firms to participate in Munich fair
- Microsoft eyes Indian smartphone mkt
- RIL Hazira unit bags 'Excellent Energy Efficient Unit Award'
More  
  Read Business news in 
  Get financial advisory and solutions for your projects
  Holidays starting at a delightful EMI of Rs 3481
  Switch on and say hello to Monday morning !
  Your dream home can now be a reality.
  Visit Fortis for a preventive health check-up & get a 20% discount.
  Follow the ups and downs of your investments. Try our new Portfolio Tracker
  Kolkata Dock \ Freight contract for the British Gurkhas Nepal
  Find how Midsize Businesses use ERP to gain competitive advantage
  Trading in Forex is now as easy as 1-2-3
  Discover an economical and cost effective way to market your products and services
  Giftwithlove.com: Same day delivery of Flowers and Cakes to India
  Download the E-book on the Future of Business Intelligence
  Learn Best Practices for improving customer satisfaction
  Know your customers better... download the free e-book on CRM
   Discussion Board / User Comments    
Display Name  Email-Id  
Post your comment
Most Popular
Read
E-Mailed
Commented
   
- Indian CIOs more progressive than global counterparts: IBM study
- IAF orders more Tejas LCAs to replace MiG-21s
- Old questions
- Ubuntu 9.10: A karmic disconnection
- Range-trading may continue this week
 
 More  
BS Poll
Cast Your Vote
 
   
 
Should India's defence sector be thrown open to foreign investments?
  Yes  No
Submit

  Hot Searches  
 
Amitabh Bachchan | N Chandrasekaran | Swine Flu | Mukesh Ambani | Anil Ambani | TCS | Infosys |  Air India |  Duronto |  Pranab Mukherjee | Sonia Gandhi | Congress | Rahul Gandhi |  Bigg Boss |  New Pension Scheme |  Service tax |  Excise duty |  Sebi | Tech Mahindra |  Ramalinga Raju |  Satyam |  Reliance  |  RBI |  GDP |  Gold |  Ratan Tata |  ICICI |  |  B-School | DLF  Sensex |  Tax calculator | Home Loan  | Bollywood | Personal Finance |  inflation | oil prices |  World Bank | Reliance Infratel |  HDFC |  Barack Obama  
 
  Member Area Write to the Editor RSS Archives Advanced Search
  Subscribe to BS print product BS e-paper Newsletter Portfolio Tracker
  BS Products BS Hindi BS Motoring
FOR HOT PRODUCTS
BS Bazaar.com
Home | Markets & Investing | Companies & Industry | Banking & Finance | Economy & Policy | Opinion
Life & Leisure | Management & Marketing | Tech World
About Us | Partner With Us | Code of Conduct | Careers | Advertise with us| Terms & Conditions | Disclaimer | Site Map | Contact Us | Feedback