New Delhi: The Department of Consumer Affairs, Government of India, unveiled the latest upgrade to its Price Monitoring System (PMS) with the launch of Version 4.0 today. Minister Pralhad Venkatesh Joshi announced the integration of 16 additional commodities into the monitoring framework, expanding the total to 38 items. This initiative aims to enhance daily price oversight across 550 centers nationwide, spanning 34 States/UTs.
The newly included commodities encompass essential items like Bajra, Jowar, Ragi, and various wheat products, alongside kitchen staples such as Ghee, Butter, and fresh produce like Brinjal and Banana. This expansion increases the monitored items' contribution to the Consumer Price Index (CPI) weights to approximately 31%, up from 26.5%, offering critical data for policy-making on inflation by governmental bodies and analysts.
In parallel efforts to stabilize food prices, the Government has implemented several measures, including subsidized retail rates for essentials like Bharat Chana Dal, Atta, and Rice. Measures to counter hoarding and ensure ample domestic supply through duty-free imports of pulses further underscore the Government's commitment to managing inflationary pressures effectively.
Recent agricultural advances in Kharif pulses cultivation, coupled with strategic buffer stocks, have yielded positive impacts, evidenced by declining prices of Chana, Tur, and Urad in major markets. This downward trend in wholesale rates has begun to reflect in retail prices, marking a favorable turn for consumers nationwide.
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