The government has decided to sell three million tonnes of subsidized wheat through open tenders by Food Corporation of India (FCI) up to March, 2013. The wheat will be sold for domestic consumption to Bulk Users/ Roller Flour Millers/ Traders under the Open Market Sale Scheme (OMSS), as per the written information provided by KV Thomas, Minister for Consumer Affairs Food and Public Distribution System.
Around 13.02 lakh tonnes of wheat was allocated for sale in the States/UTs during the period from July-September 2012, and the reserve price for such sale was initially fixed at Rs 1,170 per quintal but it has been increased to Rs 1,285 per quintal. As per the budget estimate 2012-13, the economic cost of wheat is Rs 1,822 per quintal. The minimum support price (MSP) of wheat for Rabi Marketing Year 2012-13 is Rs 1,285 per quintal.
Initially the ministry had approved maximum subsidy for allocation of 30 lakh tonnes, which amounted to Rs 1,956 crore. These figures were based on economic cost of wheat as per budget estimate 2012-13 and also on assumption of all the tender sales taking place at the minimum reserve price of Rs 1,170 per quintal. Since the minimum reserve price has now been increased to Rs 1,285 per quintal, it is now expected that subsidy for current sale of wheat under OMSS (bulk sale) will be reduced from the earlier estimated level.
With an objective to offload part of surplus stocks in the Central Pool, the government from time to time under OMSS releases wheat for bulk sale. The above activity undertaken by the government also helps to stabilize wheat prices particularly during lean season.
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Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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