 "A vendor arranges price tag over sack filled with sugar at wholesale vegetable market in Ahmedabad")
The states will now be able to impose stock limits on sugar to tame rising prices. The decision to this effect was taken by the Cabinet on Wednesday.
"The Union Cabinet has given its approval to bring sugar under the purview of imposing stock holding limits on dealers of sugar, keeping in view the recent upward trend in sugar prices," an official statement said.
The government has taken stock of the availability of sugar and different factors contributing to rise in market prices of sugar across the country.
In order to check the inflationary tendencies in sugar and to reduce hoarding by wholesalers and retailers, the government felt an immediate need to bring sugar within the purview of stock limits.
The decision will empower state and central agencies to impose stock limits and regulate supply, distribution, storage and trade of sugar to bring down sugar prices at reasonable level by curbing unscrupulous trading, the statement added.
OTHER DECISIONS
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Enhance investment by Bharat Petroleum Corporation Limited (BPCL) in Bharat Oman Refineries Limited (BORL). The investment amount could be enhanced up to a maximum of Rs 3000 crore by way of subscription of convertible warrants & other instruments giving right to convert these into equity shares to be issued by BORL
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MoU between India and Papua New Guinea on cooperation in the field of health care and medical science
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Utilisation of 400 hectares of un-cultivable farm land at Jetsar in Sri Ganganagar District, Rajasthan, for setting up of a solar power plant of capacity exceeding 200 Mw. The land is at present in the possession of National Seeds Corporation (NSC), a central public sector enterprise
- Ex-post facto approval for an MoU between Insurance Regulatory and Development Authority of India and the Insurance Authority of United Arab Emirates
