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Getting rid of the rising food prices seems to be a distant dream, as the scenario may turn out to be even worse in next few months. According to the figures provided by government, food inflation touched 19.05% in the 4th week of November as against 17.47% previous week in the backdrop of the increased prices of potatoes, pulses and onions.
Crisil Principal Economist told “Though the Government is trying to soar up imports and take other possible measures, for another 3-4 months we are going to witness constant pressure on food prices.”
He added, “It could even touch higher levels of 20-22 per cent as well if the Government does not take desired steps”. He also pointed out that “the Government needs to import as much as it can. Secondly, the major need is of curbing speculations and hoarding of stocks. Thirdly, there is still scope to provide cheaper food grains to the poor section of the country and support at the basic level.”
According to statistics, potato prices grew more than double annually and onions turned expensive by 23%. Rice saw a rise of 11.75% and wheat 12.60%. Pulses were dearer by 42%.
The Pioneer
December 11, 2009
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