Question : Committee on Price Rise

(a) the mechanism in place to monitor and check price rise;
(b) whether the Government has formed any committee/panel to deliberate on the root cause of rising prices and suggest measures to control the same;
(c) if so, the details and the outcome thereof along with the recommendations made by the said panel and the action taken thereon; and
(d) whether the Government proposes to regulate forward trading, impose a ban on export and allow imports to check the prices of essential commodities and if so, the details thereof?

THE MINISTER OF STATE
CONSUMER AFFAIRS, FOOD AND PUBLIC DISTRIBUTION
(SHRI C. R. CHAUDHARY)

(a) : The Price Monitoring Cell (PMC), set up in the Department of Consumer Affairs is monitoring , on a daily basis, prices of twenty two essential commodities which also provides necessary inputs for making appropriate policy interventions. Both wholesale & retail prices of these twenty two items are compiled by PMC based on information furnished by 99 reporting centres spread across the country.

(b) & (c) : No such specific Committee or Panel has been set up. However, both price trends and availability of select essential food items are monitored on a regular basis at the highest level, including by Committee of Secretaries, Inter Ministerial Committee etc.

(d) : The existing Government policy on forward trading in commodities is being regulated by the Securities and Exchange Board of India (SEBI). As regards exports, Government has banned export of all pulses except for kabuli channa and up to 10,000 MT in organic pulses and lentils; edible oils in bulk, except coconut oil and other edible oils in branded consumer packs of up to 5 kg, with a minimum export price of USD 900 per MT. Besides this, export of onion is also regulated through effective imposition of Minimum Export Price from time to time depending upon exigencies. Import of pulses are allowed at zero import duty.
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