Friday, Mar 29 2024 | Time 19:29 Hrs(IST)
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Business Economy


Onion prices started coming down; Govt working to bring produce in market: FM

New Delhi, Dec 13 (UNI) Union Finance Minister Nirmala Sitharaman on Friday said the prices of onion has started coming down and they are taking steps to bring the produce in the market as soon as possible.
The Government has constituted a Group of Ministers (GoM) also to review the situation and to take steps to normalise the situation.
“The price of onion are coming down gradually. They have come down at several places. It is not completely down but are coming down. We have made a Group of Ministers which is reviewing it on almost every 1-2 days,” Ms Sitharamn told a press conference.
The Minister said onions are a fast perishable commodity. Due to rain in some places, flooding in some other, crop extent was less and hence output was less and because of this it has gone a beyond level.
Talking about initiatives taken by the government, Ms Sitharaman said some results have started coming out and some would come with time.
Enumerating the government’s initiatives on the economic front, Chief Economic Advisor Krishnamurthy Subramanian said 66 per cent of Rs 3.38 lakh crore budgeted expenditure has already been spent by the government.
He said Select Central Public Sector Enterprises (CPSEs), which include 32 Maharatnas and Navratnas, have undertaken capital expenditure of Rs 98,000 crore till November 2019 and are projected to undertake expenditure of Rs 60,000 crore in the remaining part of the year, Mr Subramanian said.
He said following the RBI guidelines mandating banks to link their lending rates to external benchmarks, all public sector banks have introduced repo rate-linked loan products and around 8.18 lakh Repo linked loans of Rs 72,201 crore were sanctioned till November 27, 2019.
UNI SW SHK1809
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