Centre hikes reserve prices for open-market sale of wheat by 10.86% and rice 3%
As per an order issued by the Ministry of Consumer Affairs, Food and Public Distribution on July 10, a reserve price of Rs 2,550 per quintal has been fixed for the sale of wheat of all crop years including rabi marketing season 2025-26 to private parties through e-auction; for sale to central cooperative organisations like NAFED/NCCF/ Kendriya Bhandar for sale under the Bharat brand through own stores/mobile vans, or e-commerce/big chain retailers; and for sale to community kitchens.
The prices will be valid up to June 30, 2026, the ministry said in the order. 'Transportation cost, as applicable, will be added to the reserve price,' it said.
The wheat reserve price fixed for the financial year 2025-26 is 10.86 per cent higher compared to Rs 2,300 per quintal in the last fiscal year (2024-25).
While the Department of Food and Public Distribution (DFPD) has fixed the reserve price of wheat, it has not announced the quantity to be sold through the open-market sale scheme. The quantity to be sold will be decided by the Food Corporation of India (FCI).
'The quantum of stocks to be offloaded & timing, considering stocks holding at the relevant point of time may be decided by FCI in consultation with DFPD after keeping the stocks for PDS requirement, buffer norms and additional quantity of 20 LMT that can be used in case of any exigency,' said the order.
The existing reserve prices of rice will continue till October 31, 2025, and the 3 per cent hike in prices will come into effect from November 1 onwards.
From November 1, the reserve price of rice with 25% broken grains to private parties and cooperatives/cooperative federations through e-auctions will be increased to Rs 2,890 per quintal from Rs 2,800 per quintal.
The reserve price of rice for sale to state governments and their corporations, and to ethanol distilleries for the production of ethanol, will increase to Rs 2,320 per quintal from Rs 2,250 per quintal.
The reserve price for the open-market sale of custom-milled rice (CMR) with 10 per cent broken grains—under the rice milling transformation scheme—to private parties through e-auctions has been hiked to Rs 3,090 per quintal from Rs 3,000 per quintal.
'3% increase in Reserve Price in accordance with increase in MSP of paddy,' said the order.
According to the order, support from the price stabilisation fund amounting to Rs 200/quintal for the sale of rice to central cooperative organisations for sale under the Bharat brand rice will be discontinued with effect from July 1, 2025.
The quantity of rice to be sold under the OMSS-D has also not been announced. 'Quantum of stocks to be offloaded, and timing, considering stocks holding at the relevant point of time may be decided by FCI in consultation with DFPD after keeping the stocks for PDS requirement, buffer norms and additional quantity of 30 LMT that can be used in case of any exigency,' said the order.
The ministry has also fixed reserve prices of coarse grains—for sale of bajra to private parties through e-auctions at Rs 2,775 per quintal, ragi at Rs 4,886 per quintal, jowar at Rs 3,749 per quintal, and maize at Rs 2,400 per quintal.
Harikishan Sharma, Senior Assistant Editor at The Indian Express' National Bureau, specializes in reporting on governance, policy, and data. He covers the Prime Minister's Office and pivotal central ministries, such as the Ministry of Agriculture & Farmers' Welfare, Ministry of Cooperation, Ministry of Consumer Affairs, Food and Public Distribution, Ministry of Rural Development, and Ministry of Jal Shakti. His work primarily revolves around reporting and policy analysis. In addition to this, he authors a weekly column titled "STATE-ISTICALLY SPEAKING," which is prominently featured on The Indian Express website. In this column, he immerses readers in narratives deeply rooted in socio-economic, political, and electoral data, providing insightful perspectives on these critical aspects of governance and society. ... Read More
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hans India
29 minutes ago
- Hans India
UP govt enhances ambit of old-age pension, vows to cater to over 67 lakh senior citizens
Lucknow: The Uttar Pradesh government has decided to enhance the ambit of old-age pension for the senior citizens and has now set a target of providing a monthly pension to more than 67 lakh elderly, in the current financial year 20025-26. The pledge comes after the UP government disbursed old-age pensions for 61 lakh poor senior citizens in the first quarter. In the first quarter of the previous financial year, the Yogi government had met its goal of crediting Rs 1,000 pension directly into the bank accounts of 56 lakh elderly beneficiaries. This year, the Social Welfare Department set a new target of 61 lakh pensioners, which it accomplished. Now, the state government has raised the bar and seeks to cater to 67.50 lakh elderly. The Old Age Pension Scheme is a cornerstone of the Yogi Adityanath government, aimed at making financially vulnerable senior citizens self-reliant and helping them handle financial hardships during later years of their life. Under the Old Age/Farmer Pension scheme, those old-aged people who are 60 years of age or above and whose income from all sources in rural areas is up to Rs 46,080 and in Urban areas Rs 56460, are eligible under the pension scheme. Under this scheme, people 60 years or above are given a pension amount of Rs 1000 per month on a quarterly basis. The reach of the Old Age Pension Scheme has grown steadily since 2018-19, when 40.71 lakh beneficiaries received Rs 1,879 crore. By 2019-20, the number rose to 47.99 lakh (Rs 2,698 crore), and in 2020-21 to 51.24 lakh (Rs 3,694 crore). The upward trend continued with 51.92 lakh (Rs 4,278 crore) in 2021-22, 54.97 lakh (Rs 6,083 crore) in 2022-23, and 55.68 lakh (Rs 6,464 crore) in 2023-24. In 2024-25, 55.99 lakh elderly beneficiaries received pensions. The achievement of this year's target within the first quarter highlights the government's priority towards ensuring both the financial security and self-respect of the elderly. It also reinforces the state government's commitment towards the welfare and dignity of senior citizens. The introduction of the Single Nodal Account (SNA) system has made the pension distribution process fully digital and transparent. Under this system, pension amounts are transferred directly to Aadhaar-linked accounts, eliminating middlemen and ensuring timely, corruption-free disbursement. The SNA system also facilitates faster payments, easier audits, and efficient fund tracking, guaranteeing that every rupee is used for the intended purpose. Since the scheme's launch in 2017, when it covered 37.47 lakh beneficiaries, the reach has nearly doubled, now targeting 67.50 lakh people.
Economic Times
29 minutes ago
- Economic Times
Centre approves two semiconductor units for Odisha
Chief Minister Mohan Charan Majhi on Tuesday said the Union Cabinet's approval for the establishment of two semiconductor units in Odisha will accelerate the state's growth in the CM expressed his gratitude to Prime Minister Narendra Modi and Union minister Ashwini Vaishnaw for the Centre's approval of the two semiconductor units in Odisha. Opposition BJD, which had announced the Odisha Semiconductor Manufacturing and Fabless Policy 2023, said: "While other states were only announcing semiconductor units in 2024, the decision by the Union Cabinet to approve two such units in Odisha today is truly commendable." BJD senior vice-president Debi Prasad Mishra at a press conference here, expressed confidence that the state government will take proactive steps to develop the required supporting ecosystem for these units within the stipulated in the day, the Union Cabinet, chaired by Prime Minister Narendra Modi, approved four more semiconductor projects under India Semiconductor Mission (ISM), two of which will come to Odisha and one each for Punjab and Andhra Pradesh. After the Union Cabinet meeting, Vaishnaw said that a silicon carbide semiconductor plant will be set up in Bhubaneswar with an investment of Rs 2,066 crore by SiCsem. "Silicon carbide is a very robust material and can sustain at high temperatures. Silicon carbide is used in our missiles, satellites, telecom towers, rockets, railway engines, etc," Vaishnaw said. The minister said that the plant will have a capacity to produce 9.6 crore chips per Cabinet also approved US chip major Intel-backed 3D Glass semiconductor manufacturing unit in Odisha with an investment of Rs 1,943 crore. The plant will be set up by Heterogenous Integration Packaging Solutions Pvt Ltd with an annual production capacity of 5 crore units."I sincerely express my gratitude to Hon'ble Prime Minister Shri @narendramodi ji and Hon'ble Union Minister Shri @AshwiniVaishnaw ji for the Central Cabinet's approval of the establishment of two semiconductor manufacturing units in Odisha," Majhi said in a post on chief minister said the recent amendment of the Odisha Semiconductor Manufacturing and Fabless Policy, aimed at enhancing investment viability, competitiveness, and sustainability, together with this significant Cabinet approval, marks a major milestone in the state's industrial and technological advancement."This collaborative effort will accelerate innovation, generate employment, and strengthen Odisha's position as a vital contributor towards the vision of #AtmanirbharBharat. I look forward to continued partnership between the state and Central governments to further this strategic initiative for the comprehensive development of Odisha and the nation. #doubleengine," Majhi Private Limited is collaborating with Clas-SiC Wafer Fab Ltd, UK, to establish an integrated facility of Silicon Carbide (SiC) based Compound Semiconductors in Info Valley, Bhubaneshwar, project proposes to manufacture Silicon Carbide devices. This compound semiconductor fab will have an annual capacity of 60,000 wafers and packaging capacity of 96 million units. The proposed products will have applications in missiles, defence equipment, electric vehicles (EVs), railway, fast chargers, data centre racks, consumer appliances, and solar power inverters, an official statement said.3D Glass Solutions Inc (3DGS) will be setting up a vertically integrated advanced packaging and embedded glass substrate unit in Info Valley, Bhubaneshwar, Odisha. This unit will bring the world's most advanced packaging technology to India. Advanced packaging brings the next generation of efficiency to semiconductor industry, the statement facility will have a large variety of advanced technologies, including glass interposers with passives and silicon bridges, and 3D Heterogeneous Integration (3DHI) capacity of this unit will be approximately 69,600 glass panel substrates, 50 million assembled units, and 13,200 3DHI modules per annum. The proposed products will have significant applications in defence, high-performance computing, artificial intelligence, RF and automotive, photonics and co-packaged optics and leader Mishra said the process of setting up semiconductor units in Odisha was initiated under the leadership of former Chief Minister Naveen Patnaik during the BJD government. "The recent decision by the Union Cabinet to establish two semiconductor units in Odisha is rooted in the initiatives undertaken during the BJD regime," he said that investors interested in establishing a semiconductor industry in the state was cultivated during the 2nd edition of the Make in Odisha conclave held in December 2022, where several proposals were received. Accordingly, a dedicated policy for the semiconductor sector and its supporting ecosystem was formulated in 2023, he said. The BJD leader said that discussions were held with multiple international investors to attract investment in this sector, and efforts began to establish the necessary ecosystem to develop Odisha as a cutting-edge electronics manufacturing hub. Elevate your knowledge and leadership skills at a cost cheaper than your daily tea. As 50% US tariff looms, 6 key steps that can safeguard Indian economy As big fat Indian wedding slims to budget, Manyavar loses lustre Why are mid-cap stocks fizzling out? It's not just about Trump tariffs. The airport lounge war has begun — and DreamFolks is losing Stock Radar: UNO Minda eyeing fresh 52-week high in next few weeks; check target and stop loss for long positions Buy, Sell or Hold: Antique recommends buy on Siemens; Avendus upgrades SBI to Buy post June quarter results Stock picks of the week: 5 stocks with consistent score improvement and upside potential of up to 25% Weekly Top Picks: These stocks scored 10 on 10 on Stock Reports Plus
India Today
29 minutes ago
- India Today
Lapses, irregularities, round tipping: Yes Bank's Rs 500 crore loan sale under scanner
A special audit into YES Bank's past transactions has raised serious questions over the transfer of a Rs 500 crore non-performing loan of Housing Development and Infrastructure Ltd. (HDIL) to Suraksha Asset Reconstruction Company (ARC), flagging governance lapses, procedural irregularities and possible fund audit found indications that YES Bank may have indirectly financed the purchase of its own stressed asset. The transaction dates back to March 31, 2017, when the bank sold HDIL's non-performing loan, valued at over Rs 523 crore including interest, to Suraksha ARC for Rs 518 YES Bank claimed it had secured a 15 per cent cash margin, auditors found evidence suggesting the purchase money originated from financing provided by the bank itself. Investigators noted that just weeks before the deal, YES Bank sanctioned about Rs 199 crore in term loan and cash credit facilities to Fortune Integrated Assets Service Ltd., a company associated with the Suraksha March 2017, the bank reportedly increased the cash credit limit by another Rs 100 crore. A portion of these funds allegedly went into Suraksha ARC's account to facilitate the acquisition of the HDIL report flagged this routing of funds as a serious control and compliance concern. In several instances, the bank is said to have allowed group-linked entities to use sanctioned credit lines to make cash margin payments in ARC transactions, undermining the purpose of risk audit also found that the HDIL loan transfer to Suraksha ARC took place without competitive bidding or independent valuation. Certain stressed accounts classified as SMA-2 loans on the verge of becoming non-performing assets were allegedly sold without proper disclosure or market 2016 and 2018, Suraksha ARC emerged as a key buyer of YES Bank's distressed assets, acquiring exposure worth more than Rs 2,700 crore. In FY17 alone, Suraksha ARC accounted for 98 per cent of the bank's asset sales to reconstruction companies, raising concerns over potential preferential the time Suraksha ARC filed its claim in HDIL's insolvency proceedings, the loan - carrying a 14.25 per cent interest rate and an additional 2 per cent penalty - had risen to nearly Rs 700 the proposed resolution plan for HDIL's guarantor group, still pending before the National Company Law Tribunal, Suraksha ARC may recover only about Rs 150 crore, representing a write-down of over 75 per audit findings come amid renewed scrutiny of YES Bank's lending and restructuring decisions prior to 2020, and the matter is now under the radar of regulatory and investigative agencies, with potential implications for the bank, Suraksha ARC and the wider asset recovery sector.(Disclaimer: The views, opinions, recommendations, and suggestions expressed by experts/brokerages in this article are their own and do not reflect the views of the India Today Group. It is advisable to consult a qualified broker or financial advisor before making any actual investment or trading choices.)- EndsTune InMust Watch
