He blames rise in petroleum prices in international market for the present situation
Union Finance Minister Pranab Mukherjee here on Sunday emphasised on the need for strengthening the public distribution system to prevent weaker sections of society from being adversely affected by rising prices of food items.
“If the PDS is improved, through them we can deliver food items and other essential commodities at subsidised rate.
To some extent a section of the people will be relived from the adverse impact of high prices,” said Mr. Mukherjee after delivering the NALCO Foundation Day lecture here. He asked the State governments to ensure streamlining of PDS for benefiting the families living Below the Poverty Line. “I have also written to all the chief ministers to prevent hoarding by exercising Essential Commodities Act,” Mr. Mukherjee said.
Expressing deep concern over high fluctuation in food prices, the Union Finance Minister said: “I hope the measure which we have taken both from the supply side and demand side and also by allowing the import of essential food items which are in short supply with zero duty will improve the food inflation.”
He blamed rise in petroleum prices in international market for the present situation.
“No way we can completely insulate ourselves from the adverse impact. One of the major aspects is the rising fuel prices, particularly the diesel prices, which has its impact on the economy,” the senior Minister in the UPA government said.
Pointing out that along with the financial crisis, the global commodity market was erratic, Mr. Mukherjee said food prices were going up all over the country, rather all over world.