Modi promises to rein in prices

Tags: News
Vowing to control inflation, Prime Minister Narendra Modi today said improving agriculture productivity through modern farm techniques and university- farmer collaboration hold the key to check price rise.

Replying to the motion of thanks to President's address in Lok Sabha, Modi said his government's top priority is to provide every citizen with a house that has running water, electricity and toilet.

No person should go to bed hungry, he said while stressing the government's resolve to bring food prices under check.

The retail inflation accelerated to a three-month high of 8.59 per cent in April, mainly due to increasing prices of vegetables, fruits and milk.

"We have promised to control inflation. We are determined achieve this target," he said.

"We will do this (control inflation) not only because it is our election promise but we want every poor to have access to food," he said, adding that "this is the collective responsibility of all of us".

In its election manifesto, BJP had promised that it would rein in prices if it came to power.

The manifesto had listed many steps to contain inflation, including a price stabilisation fund, setting up of special courts to deal with hoarding and black marketing, unbundling of the Food Corporation of India and establishment of national agriculture market.

Emphasising the importance of increasing farm productivity, Modi said there is a need for use of modern technique in the agriculture sector because farm land is shrinking with rising population.

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E-mail ID will not be published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

  • Child abuse needs to be tackled with the seriousness it deserves

    The Bangalore rape case has again brought into focus an issue we Indians forever shy away from facing up to — child sexual abuse.

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

Varun Dutt

<b>Riskfactor</b>: THE BASE RATE BIAS

Base rate fallacy, also called base rate neglect or base ...

Parvez Imam

Revisiting history can do us all good

We often think that we understand history. We read it ...

Bubbles Sabharwal

Your happiness doesn’t depend on your needs

They are two different words (and even worlds) altogether: having ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture