India to offload 50 lakh tonnes of wheat, 25 lakh tonnes of rice in open market to curb inflation

The Union Government is all set to offload 50 lakh metric tonnes (LMT) wheat and 25 LMT rice in the open market via OMSS (Open Market Sale Scheme) to curb rising prices of cereals in the retail market. The government has also reduced the reserve price of rice from Rs. 31/kg to Rs. 29/kg to increase availability for consumers.

Read more at CNBC TV 18