To curb rising rice prices, the government has decided to sell the subsidized grain through retail outlets under the Bharat Rice Initiative.
Food Ministry will launch Bharat Rice on Friday. It has been said that Bharat rice will be sold in the market at Rs 29 per kg.
The plan is to reduce retail prices of mass-consumed rice varieties, which remain high despite restrictions on some exports and open market sales by the Food Corporation of India (FCI).
According to media reports, officials say that the issue of high prices of rice remains a matter of concern. Hopefully the India Rice Initiative may have some impact in bringing down prices
Currently, the government is selling pulses at subsidized rates of Rs 60 per kg and Rs 27.5 per kg under Bharat Dal and Bharat Atta initiatives respectively.
According to reports, about 0.45 MT of non-fortified rice stock with FCI will initially be offered for retail sale by agencies like farmers' cooperative body NAFED, National Cooperative Consumer Federation (NCCF) and Kendriya Bhandar.