PRICE STABILISATION FUND (PSF) Scheme

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Relevance: Centre procures Tomato under Price Stabilisation Fund to bring relief to consumers - PIB

About Price Stabilisation Fund ( PSF ):
1. Introduction 
1.1 Prices of some of the horticulture commodities especially onion and potato are highly volatile. At the harvest time and soon thereafter, a steep fall in the wholesale and retail prices is normally observed. With depletion of the stored stocks, the prices tend to increase. This phenomenon is more apparent in the case of onions and potatoes. Price volatility affects consumers in a big way. Abnormal increase in price of these commodities affect the consumers by way of increase in food consumption budget. Wide price fluctuations also lead to speculation which further impact prices in retail market. 
1.2 To mitigate hardships to consumers, a new central sector scheme for providing working capital and other incidental expenses for procurement and distribution of perishable agri-horticultural commodities has been approved. For this purpose, a corpus – “Price Stabilisation Fund” is being created. The intervention is expected to regulate price volatility through procurement by State/ UT Government and Central agencies of selected produce, maintenance of buffer stocks and regulated release into the market. 1.3 To begin with, interventions would be supported for onions and potatoes only. However, other commodities may be added later. 
2. Objectives 
2.1 To promote direct purchase from farmers /farmers’ associations at farm gate/Mandi. 
2.2 To maintain a strategic buffer stock that would discourage hoarding and unscrupulous speculation.
2.3 To protect consumers by supplying such commodities at reasonable prices through calibrated release of stock.
3.2 Price Stabilisation Fund Management Committee (PSFMC) 
3.2.1 The Fund shall be managed by a “Price Stabilisation Fund Management Committee" (PSFMC) under the Chairmanship of Secretary (DAC) with the following members:- 
1. Additional Secretary, DAC (In charge of Marketing) – Member 
2. AS&FA, DAC – Member 
3. Joint Secretary (Deptt of Consumer Affairs) – Member 
4. Joint Secretary, DAC (Crops) – Member 
5. Joint Secretary, DAC (Horticulture) – Member 
6. Chairman & Managing Director, – Member Food Corporation of India 
7. Managing Director, National Horticulture Board – Member 
8. Joint Secretary, DAC (Marketing) – Member Secretary 
3.2.2 PSFMC will invite, appraise and approve proposals received from State Governments/UTs and Central Agencies. PSFMC will approve the amount of advance. 
3.2.3 PSFMC will take decisions regarding investing surplus available in the Central Corpus Fund, in other bank instruments like fixed deposits, etc for better returns. While doing so, it will be guided by extant guidelines on this subject. 
3.2.4 PSFMC will monitor the progress of implementation of the Price Stabilisation Operations by the implementing agency. PSFMC will advise suitable measures/corrective actions, if any, during the course of implementation, keeping in view the overall aim & objective of the scheme. 
3.2.5 PSFMC will meet regularly to review the wholesale and retail prices of essential agri-horticulture commodities and will guide/propose required interventions. 

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