Govt has taken several steps to check rising prices of onions: FM

Finance Minister Nirmala Sitharaman says the government has taken several steps to check rising prices of onions and initiated measures to improve technology for better storage of the kitchen staple.

Replying to the debate on the first batch of Supplementary Demands for Grants, which was later passed by the Lok Sabha, Ms Sitharaman said the steps include a ban on the export of onions, the imposition of stock limit, import and transfer of the vegetable from surplus to deficit area. Prices of onions in many places have crossed 100 rupees per kg because of less production.

Attributing shortage to low production, the minister said there are severe structural problems related to onions. She said India does not have scientifically advanced methods of storing. Greater scientific storage facility for onions is needed and the government has started working on it, she added.

The minister also dismissed the criticism that there was any fear among investors. She pointed out that FDI inflows have gone up to USD 209 billion during the first half of the current fiscal from USD 17 billion in the same period a year ago.

The minister also said that due to implementation of direct benefits transfer scheme, the government has been able to save 1.41 lakh crore rupees in the last five years by plugging loopholes. Talking about the state of the economy, the Finance Minister said that the revenue collection has gone up as well as expenditure. (AIR NEWS)

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