On August 31, 2022, Cabinet Committee on Economic Affairs (CCEA), chaired by the Prime Minister (PM) Narendra Modi approved the following proposals:
i.Rs 1200cr scheme for disposal of pulsesto states/UTs under discounted procured under discounted rate
ii.Signing of MoU between India and Nepal in the Field of Biodiversity Conservation
i.Cabinet approves Rs 1200cr scheme for disposal of pulses to states/UTs under discounted procured under discounted rate
CCEA has approved a Rs 1200 crore scheme for disposal of Chana (Pulses) to States and Union Territories (UTs) at discounted rates which will be utilized for various welfare schemes.
- The disposal will be done from the stock of pulses procured under Price Support Scheme (PSS) and Price Stabilization Fund (PSF).
- It also approved the enhancement of the ceiling on quantity of procurement under PSS from existing 25% to 40% in respect of Tur, Urad, and Masur.
How will this scheme be implemented?
The States and UTs are offered to lift 15 lakh Metric Ton of Chana at the discount of Rs 8 per kg over the issue price of the sourcing state on first come first serve basis.  The States and UTs will utilize these pulses in their various welfare schemes including Mid-Day Meal, Public Distribution System, and Integrated Child Development Programs.
- This will be a one-time dispensation for a period of 12 months or till the complete disposal of 15 lakh MT stock of Chana.
What is PSF & PSS?
PSF:
Established in 2014-15, PSF is any fund created to absorb extreme volatility in selected commodity prices. Such goods will be procured directly from farmers or farmers’ organisations at the farm gate/mandi, and made available to consumers at a more affordable price.
- In case of Losses sustained, it will be shared between the Central Government and the states must be shared in the operations.
PSS:
The Department Of Agriculture Cooperation and Farmers Welfare (DAC&FW) implements the PSS for procurement of oil seeds, pulses and cotton, through National Agricultural Cooperative Marketing Federation of India Ltd. (NAFED) which is the Central nodal agency, at the Minimum Support Price (MSP) declared by the government.
- NAFED undertakes procurement as and when prices fall below the MSP.
- Food Corporation of India (FCI) also takes up procurement of crops under PSS.
Point to be noted:
i.India has witnessed an all-time high production of Chana, especially during the last three years. Government of India under PSS has made record procurement of Chana during Rabi 2019-20, 2020-21 & 2021-22. Due to this, 30.55 lakh MT of Chana is available with the Government under PSS & PSF. In the coming Rabi season also, the production of Chana is expected to be good.
Cabinet approves signing of MoU between India and Nepal in the Field of Biodiversity Conservation
- The Union Cabinet also approved the proposal of the Ministry of Environment, Forest and Climate Change (MoEF&CC) for signing a Memorandum of Understanding (MoU) with the Government of Nepal on biodiversity conservation.
- The MoU envisages strengthening and enhancing the coordination and cooperation in the field of forests, wildlife, environment, biodiversity conservation, climate change, restoration of corridors and interlinking areas.
- Both sides also share knowledge and best practices.
Key Points:
i.India is one of the 17 mega-diverse countries in the world and it is taking several steps to conserve the wildlife population and biodiversity.
ii.The Indian government has adopted many laws, policy initiatives, and acts to conserve the vast flora and fauna in the country and across the borders adjoining neighbouring countries.
Recent Related News:
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ii.The Cabinet approved a Bill to amend the Competition Act, 2002, with the aim of reforming the competition regulation ecosystem. The Competition (Amendment) Bill proposes changes to the governing structure of the Competition Commission of India (CCI) as well as changes to substantive legal provisions to address the needs of new age markets.