Categories: Business

After reducing the price of wheat by Rs 500 per quintal, the government will save Rs 9,000 crore, the flour mill owners suggested

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Govt can save Rs 9,000 cr if wheat rates under OMSS are reduced by Rs 500 / qtl, says floor millers

new Delhi. Flour mill owners have requested the central government to reduce the price of wheat to Rs 500 per quintal to wholesale customers under the Open Market Sale Scheme (OMSS). He argues that with this step, the government can save Rs 9,000 crore in maintenance expenses by selling 6 million tonnes of surplus wheat.

The Indian Roller Dough Millers Federation (RFMF) has promised that they will extend the benefit of the price to consumers. He has also demanded exemption in Goods and Services Tax (GST) for wheat flour rich in nutrients. Food Corporation of India (FCI) has considerable stock deposits and is providing wheat at a reserve price of Rs 2,135 per quintal to bulk customers like flour mills under OMSS.

RFMF President Sanjay Puri said in a digital press conference that the wheat prices offered under the OMSS are much higher than the open market prices and even the imported wheat rates. If the OMSS rate is reduced by Rs 500 per quintal to Rs 1,635, flour mills can raise about 60 lakh tonnes of wheat from FCI.

This post was published on July 16, 2020 10:16 am

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