Today's Paper Archive Classifieds Subscriptions RSS Feeds Site Map ePaper Mobile Apps Social
SEARCH

Business » Economy

Updated: September 3, 2011 15:49 IST

Improving supply of farm products to arrest price rise: Pranab

PTI
Share  ·   print   ·  
Union Finance Minister Pranab Mukherjee. File photo
The Hindu Union Finance Minister Pranab Mukherjee. File photo

The government is trying to improve supply of some critical farm products which will help moderate the double-digit food inflation in coming weeks, Finance Minister Pranab Mukherjee said on Saturday.

“Food inflation has reached double digit which is a matter of concern. Definitely there is a seasonal factor, but apart from that seasonal factor, there are supply constraints in some critical agricultural products which we shall have to remove,” Mr. Mukherjee told reporters in Kolkata.

He hoped that it would have some moderating influence in the coming weeks.

“The monetary policy the Reserve Bank has adopted will have impact but will take some time to have full impact on the demand management and in the short and medium term we are trying to improve the supply so that the moderating influence of inflation is felt in the coming week.”

After a gap of over five months, food inflation entered the double-digit zone at 10.05 per cent for the week ended August 20, which fanned fears of another hike in policy rates by RBI in mid-quarter monetary policy review scheduled on September 16.

More In: Economy | Business | National | News


O
P
E
N

close

Recent Article in Economy

Debit cards entered India in 1998 and they currently account for almost 95 per cent of the total number of cards in circulation. Credit cards have shown relatively slower growth. File photo.

Only 10-15% cards used for online transactions: RBI report

Of the 369 million debit and credit cards in the country, 10-15 per cent are used only for online transactions, the Reserve Bank said. <... »