Assam Govt Plans Price Stabilisation Fund to Shield Consumers from Global Turmoil

Staff Reporter

GUWAHATI: To immunise consumers and traders from price rises, the Assam government is going to create a price stabilisation fund (PSF).

Chief Minister Dr Himanta Biswa Sarma informed the state assembly today that the government would keep the provision for the creation of a price stabilisation fund in the annual budget. He said, “The prices have gone up because of the current turmoil in West Asia. India has to import most of the commodities, such as fuel, fertilisers, etc., leading to a fall in our Forex reserves. I hope the Prime Minister finds a way out to give respite to the consumers. If the war lingers, the situation may aggravate.”

The chief minister said that the government has already formed price-monitoring committees in all districts. The government has instructed all district commissioners to closely monitor market prices.

According to guidelines, states are provided a 50:50 matching interest-free advance (75:25 for the northeastern states) to set up their own price stabilisation funds at the state level for local market stabilisation. Central agencies (like NAFED and NCCF) and state governments use the fund to obtain interest-free working capital for directly purchasing crops from farmers.

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