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Improving supply of farm products to arrest price rise: Pranab

Improving supply of farm products to arrest price rise: Pranab
PTI
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First Published: Sat, Sep 03 2011. 04 44 PM IST
Updated: Sat, Sep 03 2011. 04 44 PM IST
Kolkata: 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,” Mukherjee told reporters here.
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% for the week ended 20 August, which fanned fears of another hike in policy rates by RBI in mid-quarter monetary policy review scheduled on 16 September.
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First Published: Sat, Sep 03 2011. 04 44 PM IST