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.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Skill gaps faced by India’s graduates cannot be filled easily

    India, the third largest economy in the world with regard to purchasing power parity, is expected to overtake China in its working population by 2028.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

M S Swaminathan

Public good research in agriculture

Public good research in agriculture is designed to promote risk ...

Purnendu Ghosh

Why we must know the rules of the game

We like to believe that people are good and we ...

Shona Adhikari

Pop art is truly a feast for the eyes

The internationally reknowned Bruno Art Group’s presence in India had ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture