Income Tax department raided on several properties of country’s biggest onion traders at Lasalgaon, the largest onion market of India located in Nashik district.
Around 120 IT officials from Nashik unit conducted this raid, suspecting the involvement of 7 big onion traders in hoarding of onions with an intention to create false scarcity in the market.
Consequently the average wholesale price of onion declined by 35% to Rs 900/- per quintal which was Rs 14,00 per quintal before the price fall. Check out state-wise petrol and diesel price today
Hence the onion prices as a result have fallen from Rs 20/- per kg to Rs 11/- per kg.
According to sources, this raid will be continued for further 2-3 days.