Short Article

01-08-2023 | 14:48 PM

Open Market Sale Scheme (OMSS)

• Food Corporation of India (FCI) has imposed quantity restrictions and has also refused to allow States to procure wheat and rice through its Open Market Sale Scheme (OMSS).
• Under the OMSS, the FCI sells surplus food grains from the central pool, especially wheat and rice in the open market to traders at predetermined prices.
• The FCI does this through e-auctions where open market bidders can buy specified quantities. States are also allowed to procure food grains through the OMSS.
• The objective of OMSS is to improve and regulate domestic supply and availability of the two grains and bring down their prices in the open market.