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People upset due to continuous increase in the price of wheat and flour, government in action mode to control prices

Highlights

The government has come into action mode due to the increase in the prices of wheat and flour.
Due to the increase in the price of wheat and flour, the government may soon reduce the import duty on wheat.
To control the prices, the government had banned the export of wheat in the month of May.

New Delhi. The price of wheat and flour has increased amidst rising inflation and market volatility. In order to control the prices of wheat in the country, the government had banned its export in the month of May. The budget of the people’s kitchen has also increased due to the continuous increase in the prices of wheat and flour. Wheat prices have increased by 3% in the last one month. On the other hand, if you look at the prices of flour, its price has increased by 5% in the last 1 month. With the increase in the prices of wheat and flour, the government has also come into action mode. The government is preparing to take steps to rein in the prices.

Giving more details on this news, Aseem Manchanda of CNBC-Awaaz said that we are seeing that the prices of wheat and flour have increased continuously. In the last 1 month, the price of wheat has increased by 3% while the price of flour has increased by 5%. Therefore, now the government is seen in action mode to rein in the prices.

Wheat price increased by 15% in 1 year
Talking on this, he further said that even if we look at the figures of the last 1 year, the prices have increased a lot. If we compare the prices of wheat and flour with the price of a year ago, then in 1 year the price of wheat has increased by 15%. On the other hand, if we talk about flour, the prices of flour have increased by 20% in 1 year.

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Government may soon reduce import duty on wheat
Asim said that due to the increase in the price of wheat and flour in the festive season, the government may soon reduce the import duty on wheat. The reduction in the import duty of the government can rein in the prices, which can give relief to the people in the festive season. At present, import duty of 40% is levied on wheat.

FCI stock at last 5 year low
Aseem further said that at present, the stock of FCI has also reached a low level in the case of food grains. At present, 492 metric tonnes of food grains are lying in stock with FCI. In terms of data, the stock of FCI has reached the lowest level of last 5 years at this time. In view of this, the government can soon take steps to rein in the prices.

Tags: business news in hindi, FCI, Import-Export, Market, Wheat

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