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FM Arun Jaitley asks states to rein in hoarders to check food inflation

| | Jul 04, 2014, at 07:10 pm
New Delhi, July 4 (IBNS) Union Finance Minister Arun Jaitley on Friday said all state governments should use their full powers to rein in the hoarders and black marketeers who take advantage of the monsoon forecasts.

"The media reports that perhaps this year monsoon will be below average will be used by hoarders. I urge all the governments to use their full strength to keep price rise at check," said Jaitley addressing the food ministers of various states here. He will also meet them later.

Jaitley said in anticipation the states and centre should act instead of waiting for the prices of food to rise.

"The recent rise in prices in onions, potato, rice, milk, etc. has been witnessed. We have taken some measures too. APL, BPL families will get  50 lakh tonnes of  rice," he said.

He said  onions and potatoes were brought under the Essential Commodities Act, 1955, and the states can set limits of their stocking.

The FM said there was no panic situation but some are taking advantages and they should be strongly dealt with. 

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