CURRENT AFFAIRS

Detailed explanation-1: -A buffer stock scheme (commonly implemented as intervention storage, the “ever-normal granary") is an attempt to use commodity storage for the purposes of stabilising prices in an entire economy or an individual (commodity) market.

Detailed explanation-2: -Buffer stock refers to a reserve of a commodity that is used to offset price fluctuations and unforeseen emergencies. It is generally maintained for essential commodities and necessities like food grains, pulses etc.

Detailed explanation-3: -Buffer Stock-It is the stock of food grains, particularly wheat and rice, which the government procures through the Food Corporation of India (FCI). The FCI purchases these cereals directly from the farmers of those states where they are in surplus.

Detailed explanation-4: -Buffer stock is made to disperse the food grains in the food deficiency regions and among the less fortunate layers of society at a lower cost than the market value which is otherwise called issue cost.