{"id":12022,"date":"2023-06-15T01:22:33","date_gmt":"2023-06-14T19:52:33","guid":{"rendered":"https:\/\/vajiramandravi.com\/current-affairs\/?p=12022"},"modified":"2025-03-30T06:51:50","modified_gmt":"2025-03-30T01:21:50","slug":"what-is-open-market-sale-scheme-omss","status":"publish","type":"post","link":"https:\/\/vajiramandravi.com\/current-affairs\/what-is-open-market-sale-scheme-omss\/","title":{"rendered":"What is Open Market Sale Scheme (OMSS)?"},"content":{"rendered":"<h2><strong>About Open Market Sale Scheme (OMSS):<\/strong><\/h2>\n<ul>\n<li>Under OMSS, the <strong>Food Corporation of India<\/strong> (FCI) <strong>sells surplus stocks of wheat and rice at pre-determined prices through e-auction in the open market.<\/strong><\/li>\n<li><strong>Objective<\/strong>: To <strong>enhance the supply of food grains<\/strong>, especially wheat, during the lean season and thereby <strong>moderate the open market prices, <\/strong>specially in the deficit regions.<\/li>\n<li>The FCI <strong>conducts a weekly auction<\/strong> to conduct this scheme <strong>in the open market using the platform of commodity exchange NCDEX<\/strong> (National Commodity and Derivatives Exchange Limited).<\/li>\n<li>The <strong>State Governments\/ Union Territory Administrations are also allowed to participate<\/strong> in the e-auction<strong>, if they require wheat and rice outside the<\/strong> Targeted Public Distribution Scheme (<strong>TPDS<\/strong>) and Other Welfare Schemes (<strong>OWS<\/strong>).<\/li>\n<li>The <strong>reserve price is fixed by the government<\/strong>. In the tenders floated by the FCI, the <strong>bidders can not quote less than the reserve price<\/strong>.<\/li>\n<li>The present form of OMSS <strong>comprises 3 schemes as under<\/strong>:\n<ul>\n<li><strong>Sale of wheat to bulk consumers<\/strong>\/private traders <strong>through e-auction.<\/strong><\/li>\n<li><strong>Sale of wheat to bulk consumers<\/strong>\/private traders <strong>through e-auction by dedicated movement.<\/strong><\/li>\n<li><strong>Sale of Raw Rice Grade \u2018A\u2019 to bulk consumers<\/strong>\/private traders <strong>through e-auction<\/strong>.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h3>Key facts about Food Corporation of India (FCI):<\/h3>\n<ul>\n<li>It is a <strong>statutory body set up in 1965<\/strong> (under the <strong>Food Corporation Act, 1964<\/strong>) against the <strong>backdrop of major shortage of grains<\/strong>, especially wheat, in the country.<\/li>\n<li>It comes under the ownership of the <strong>Ministry of Consumer Affairs, Food and Public Distribution<\/strong>, Government of India.<\/li>\n<li><strong>Headquarters: New Delhi<\/strong><\/li>\n<li>FCI was <strong>mandated with three basic objectives:<\/strong>\n<ul>\n<li>to <strong>provide effective price support to farmers<\/strong>;<\/li>\n<li>to <strong>procure and supply grains to PDS<\/strong> for distributing subsidized staples to economically vulnerable sections of society;\u00a0<\/li>\n<li><strong>keep a strategic reserve<\/strong> to stabilize markets for basic foodgrains;<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<hr \/>\n<h3>Q1) What is Targeted Public Distribution System (TPDS)?<\/h3>\n<p>TPDS is operated under the joint responsibility of the Central and the State\/Union Territory (UT) Governments. The Central Government is responsible for procurement, allocation and transportation of foodgrains. The operational responsibilities for allocation and distribution of foodgrains within the States\/UTs, identification of eligible beneficiaries, issuance of ration cards to them and supervision over and monitoring of functioning of Fair Price Shops (FPSs) rest with the concerned State\/UT Governments.<\/p>\n<p><strong>Source:\u00a0<\/strong><a href=\"https:\/\/www.thehindu.com\/news\/national\/centre-checks-price-rise-by-discontinuing-sale-of-rice-wheat-to-states-under-omss\/article66969923.ece\" target=\"_blank\" rel=\"nofollow noopener\"><u>Centre checks price rise by discontinuing sale of rice, wheat to States under OMSS<\/u><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Under OMSS, the Food Corporation of India (FCI) sells surplus stocks of wheat and rice at pre-determined prices through e-auction in the open market.<\/p>\n","protected":false},"author":5,"featured_media":12023,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-12022","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-upsc-prelims-current-affairs","8":"no-featured-image-padding"},"acf":[],"_links":{"self":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/12022","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/comments?post=12022"}],"version-history":[{"count":0,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/12022\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media\/12023"}],"wp:attachment":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media?parent=12022"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/categories?post=12022"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/tags?post=12022"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}