Indian government launch ‘Bharat Atta’ on 6th November 2023, which will be made available across the country at subsidised prices. A total of 2.5 lakh metric tonnes of wheat has allocate to many central government agencies for Rs 21.5/kg, who will turn this into atta and sell it for Rs 27.5/kg.
Minister of Food and Public Distribution, Piyush Goyal said :
After high inflation, the Department of Consumer Affairs has brought in many policy measures ranging from export duties to bans, to contain domestic inflation.
The new step comes at a time when atta is being retail at an average cost of Rs 36/kg in the country, up 5.6% on-year, according to data collect by the Department of Consumer Affairs.
As retail inflation in India ease to a three-month low of 5.02% in September, the lowest in three months, it remain above the RBI’s medium-term target of 4%.
Central bank, which tracks consumer inflation for formulating its monetary policy, has already signal that controlling inflation would be key before it considers easing rates.
The ‘Bharat Atta’ will be made available through 700 mobile vans and 2,000 government-run outlets.
This new development comes after a gradual increase in the prices of wheat and wheat-based products in many parts of the country and as the festive season gathers steam in the country, which is typically characterise by higher consumer spending.
Consumer Affairs Secretary Rohit Singh said :