Finance Minister, Nirmala Sitharaman today said that the government will make changes to the Essential Commodities Act to enable better price realisation for farmers. Agriculture foods like cereals, edible oils, oilseeds, pulses, onions and potatoes will now be deregulated.
There will be stock limit imposed under very exceptional circumstances like a famine, national calamities where there could be a surge in prices.
No such stock limit will apply to processors or value chain participants, subject to their installed capacity or to any exporter to the export demand.
This was announced by the Finance Minister, while announcing the third tranche of the economic package today.