With reference to the Open Market Sale Scheme (OMSS), consider the following statements: 1. The scheme aims to sell surplus stocks of food grains, primarily wheat and rice, from the central pool in the open market at predetermined prices. 2. Department of Agriculture and Farmers' Welfare is responsible for conducting the OMSS. 3. The OMSS sales are conducted through e-auctions on a designated platform. Which of the statements given above are correct? |ForumIAS

Q. With reference to the Open Market Sale Scheme (OMSS), consider the following statements:
1.The scheme aims to sell surplus stocks of food grains, primarily wheat and rice, from the central pool in the open market at predetermined prices.
2.Department of Agriculture and Farmers’ Welfare is responsible for conducting the OMSS.
3.The OMSS sales are conducted through e-auctions on a designated platform.
Which of the statements given above are correct?

[A] 1 and 2 only

[B] 2 and 3 only

[C] 1 and 3 only

[D] 1, 2 and 3

Answer: C

Notes:

Explanation –

Statements 1 and 3 are correct. The Open Market Sale Scheme (OMSS) aims to sell surplus stocks of food grains, primarily wheat and rice, from the central pool in the open market at predetermined prices. This is done to control prices in the market and ensure food security. The OMSS sales are conducted through e-auctions on a designated platform, such as the National Commodity and Derivatives Exchange Limited (NCDEX). This ensures transparency and efficiency in the auction process.

Statement 2 is incorrect. The Food Corporation of India (FCI), under the Ministry of Consumer Affairs, Food & Public Distribution, is responsible for conducting the OMSS.

Source: The Times of India

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