Economics
India to Sell 25% of Rice Stocks in Bid to Curb Inflation
This article is for subscribers only.
India will offload about a quarter of its rice stockpiles and ease restrictions on selling fruits and vegetables to stem Asia’s second-fastest inflation as a weak monsoon threatens to curb crop output.
Prime Minister Narendra Modi’s administration will sell 5 million tons of rice from central reserves at subsidized rates as soon as possible, Food Minister Ram Vilas Paswan told reporters in New Delhi yesterday. It will also help states import pulses and cooking oils if needed, and fix minimum export prices for potatoes to discourage overseas sales, Finance Minister Arun Jaitley said separately.