OMSS:- Open Market Sale Scheme
The full form of the term OMSS stands for Open Market Sale Scheme. The Open Market Sale Scheme refers to the selling of food grains by the government or the government agencies at certainly predetermined prices in the open market from time to time to improve the flow of grains. Specifically for the lean season and thereby to moderate the general open market prices especially in the deficit regions. In addition to maintain buffer stocks and making a provision for meeting the requirements of the Targeted Public Distribution Scheme and Other Welfare Schemes (OWS) on the instructions from the government sell wheat and rice in the open market from time to time especially during the lean season and to moderate the open market prices especially in the deficit season. To practice this protocol in the open market using the platform of commodity exchange NCDEX (National Commodity and Derivatives Exchange Limited).