Kerala Allocates Rs 100 Crore to Control Essential Goods Prices

The Kerala government has allocated Rs 100 crore to Supplyco to manage the prices of essential commodities during Vishu and Ramadan. State Finance Minister K N Balagopal announced the funding, highlighting Supplyco's role in stabilizing market prices. The total funds allocated to Supplyco this fiscal year are Rs 489 crore.

The Kerala government has taken a decisive step to control the prices of essential commodities by allocating an additional Rs 100 crore to Supplyco for the upcoming Vishu and Ramadan seasons. This announcement was made by State Finance Minister K N Balagopal on Thursday, who emphasized the importance of market intervention to maintain affordability for the public.

Supplyco, the state government's agency, plays a crucial role in stabilizing market prices by providing essential goods at reasonable rates. Minister Balagopal disclosed that this financial year, Supplyco has already received a total of Rs 489 crore for market intervention.

The financial support includes an initial budget allocation of Rs 205 crore, with an additional Rs 284 crore granted beyond the original budget. Balagopal pointed out that similar financial aids were extended last year, where extra funds surpassed the budgeted Rs 205 crore, culminating in a total allocation of Rs 391 crore.

(With inputs from agencies.)