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Open Market Sale Scheme (Domestic) UPSC NOTE

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  What is Open Market Sale Scheme (Domestic)? Open Market Sale Scheme (OMSS) refers to the government’s selling of food grains , such as ri...

 


What is Open Market Sale Scheme (Domestic)?

  • Open Market Sale Scheme (OMSS) refers to the government’s selling of food grains, such as rice and wheat, in the open market at predetermined prices.

Why it is introduced?

  • The scheme aims to enhance grain supply during the lean season and moderate open market prices.

Working of the scheme

  • To ensure transparency, the FCI has adopted e-auction as the method for selling food grains under the OMSS (Domestic).

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  • To ensure transparency, the FCI has adopted e-auction as the method for selling food grains under the OMSS (Domestic).

  • Weekly auctions are conducted on the NCDEX platform.

  • State governments and Union Territory Administrations can participate in the e-auction if they require wheat and rice outside TPDS & OWS (Targeted Public Distribution System & Other Welfare Schemes).

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Recently in news

  • Union Food Ministry maintained that its recent decision to reduce the quantity of foodgrains a bidder can purchase under the Open Market Sale Scheme (Domestic) is to curb inflation.

  • The Centre recently decided that the quantity that a bidder can purchase in a single bid under the OMSS(D) from the FCI will range from 10-100 tonnes. 

    • Earlier, the maximum quantity allowed was 3,000 tonnes per bid for a buyer.

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Open Market Sale Scheme (Domestic)

Recently in news

  • According to Central Government

    • The quantities have been reduced this time to accommodate more small and marginal buyers and to ensure wider reach of the scheme. 

    • This will facilitate the release of stocks sold under OMSS(D) to reach the general public immediately.

Concerns

  • Concerns remain regarding lower wheat production due to adverse weather conditions.

  • Potential impact on food security.

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Learnerz IAS | Concept oriented UPSC Classes in Malayalam: Open Market Sale Scheme (Domestic) UPSC NOTE
Open Market Sale Scheme (Domestic) UPSC NOTE
Learnerz IAS | Concept oriented UPSC Classes in Malayalam
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