With reference to the government of India's landmark order to impose stock limits on pulses, consider the following statements:   1) Stock limits are applicable for all pulses except the Moong for a period up to 31st October 2021 2) Whole sellers can stock only up to 500 MT of one variety of pulses. 3) Importers are exempted from the Stock Limit Order 4) The stock limit for retailers is 5 MT.   Which of the above statement(s) are INCORRECT?

Solution

On 2nd July 2021, the govt. passed “The Removal of Licensing Requirements, Stock limits &Movement Restrictions on Specified Foodstuffs ( 2nd Amendment) Order, 2021.”Under this order, stock limits were prescribed for all pulses except the Moong. The stock limits were applicable to wholesalers, retailers, millers and importers. The objective was to control the rising prices of pulses . But, on 19th July 2021, the govt. passed another order relaxing the stock limits for wholesalers & millers and exempting the importers from any stock limits. As per the revised order, the stock limit is applicable only on tur, masoor, urad, and chana , for a period up to 31st October 2021. Stock limit of pulses for different stockholders as per the revised order: Revised stock limit as per the new order Wholesaler 500 MT (provided there should not be more than 200 MT of one variety), Retailer 5 MT, Millers Last 6 months of production or 50% of the annual installed capacity, whichever is higher