- The central govt has assured that it has enough food stocks, and that the rise of prices is due to hoarding of food stocks by speculators anticipating a rise in prices.
- Food inflation reportedly rose to 9.2% in May. Govt has said that the monsoons have only been delayed and that there is no need to panic yet.
- It has warned speculators against hoarding of essential commodities and is considering strengthening the Essential Commodities Act to make hoarding a non-bailable offence.
- It is also considering setting up fast track courts for cases for hoarders and black marketers.
- States have suggested improving the storage facilities, setting up of a price stabilization fund and market intervention if prices of certain commodities shot up.
- The govt also believes the removing restrictions on free movement of food items is as important as improving agricultural productivity to curb the speculative activities leading to price rise.
- States have been asked to implement the National Food Security Act at the earliest for its anti-inflationary impact.
- Read at:http://www.thehindu.com/todays-paper/tp-business/centre-warns-hoarders-hints-at-stern-action/article6178978.ece