The Union government approved an amendment to the 65 year old Essential Commodities Act, removing cereals, pulses, oil seeds, edible oils, onions and potatoes from the list of essential commodities. This move comes to invite private and foreign investment especially in cold storage and food supply chain. This will reduce wastage of food and increase the income of farmers of perishable commodities. The amendment also allows regulations during flood famine, extra ordinary price rise and natural calamity, while it provides exceptions for exporters and processors at such times. It also aims to open up mandis for farmers and remove barriers of inter-State trade.
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