Closely monitoring price situation: Govt

Government today said it is "closely monitoring" the prevailing price situation in the country and taking steps to bring down inflation.

Food inflation, Minister of State for Finance Nirmala Sitharama said, has already shown signs of easing in response to the measures taken earlier.

As per the latest WPI data, inflation in 31 essential commodities has moderated to 6.05 per cent in June as against 9.27 per cent in the same month last year. The retail inflation data also revealed that food prices moderated to 28 months low of 7.9 per cent in June.

"Government is committed to ensuring price stability and is closely monitoring the situation and taking steps on an ongoing basis to bring down inflation," she said in a written reply in the Lok Sabha.

Among various steps to contain food inflation, the government has recommended delisting of fruits and vegetables from the purview of Agricultural Produce Marketing Committee Acts of the states and fixing a minimum export price on onion and potato to ensure domestic supplies.

The Reserve Bank is scheduled to come out with its bi- monthly monetary policy on August 5. The central bank has maintained a high interest rate regime in its bid to check inflation.

EDITORIAL OF THE DAY

  • The government must only sell PSU stocks that are in demand

    The government’s move to change the methodology of selecting merchant bankers for divesting stake in various public sector undertakings would save d

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

BK Chaturvedi

Delhi and its democratic core

In the last one month, questions have been raised about ...

Kuruvilla Pandikattu SJ

Moral basis for collective living

Laudato si (Praise Be to You”) the second circular letter ...

Dharmendra Khandal

Have you spotted those wasps, yet?

Wasps are insects that ride on the monsoon winds. I ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture