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 :
“The government of India has taken several steps for the welfare of both farmers and consumers. We have procured food commodities every time we saw the people of the country struggle due to rising prices and have sold them at subsidised raised to benefit the consumers,”.
“We did the same with tomatoes and helped bring prices down. We then launched Bharat Dal and are doing the same with onions,”.
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 :
“Government will take similar steps to reduce inflation if any other commodity shows increasing signs. The government is proactive and doing everything it can to control inflation.”
