Kerala govt allocates Rs 225 crore for market intervention during Onam season
By Aishwarya Nair | First Published Aug 16, 2024, 12:10 PM ISTThe Kerala government has allocated Rs. 225 crores to Supplyco for market intervention during the Onam festival season. This initiative aims to control price hikes and ensure the availability of essential commodities.
Thiruvananthapuram: Finance Minister K.N. Balagopal announced that the State Civil Supplies Corporation has been allocated Rs. 225 crores for market intervention activities. The amount has been allocated to prevent the price hike of essential commodities during the Onam season. The Finance Department clarified that apart from the budget allocation, Rs. 120 crores has been made available to Supplyco.
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This financial year’s budget for market intervention is Rs. 205 crore, with Rs. 100 crore allocated last month and the remaining Rs. 105 crore as the budgeted amount. However, the Finance Department decided to add an extra Rs. 120 crores. In the previous financial year, the budget for market intervention was also Rs. 205 crores, but the government ultimately provided Supplyco with a total of Rs. 391 crores.
Minister for Food and Civil Supplies GR Anil has vowed to take stringent measures to regulate the prices of essential commodities and fruits and vegetables during the Onam festival. He chaired a meeting to review the price situation and evaluate the actions taken by various departments to prevent price hikes, ensuring affordable availability of necessities during the festive season.
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