December 18, 2009 9:35 AM

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Centre to import essential commodities to improve supplies

Finance Minister Pranab Mukherjee said, the government will import essential commodities to improve supplies, as food inflation touched a ten-year high. He told reporters in New Delhi that food prices are going up and this is an area of concern.<br/><br/>Food inflation soared to a decade's high of 19.95 per cent for the week ended 5th December on rising prices of essential food items like potato, other vegetables and pulses. A host of steps, including zero import duty on wheat, pulses and crude edible oil<br/>and allowing imports of various commodities like sugar and rice, have already been taken by the government to tame food prices.<br/><br/>RBI, which had earlier pegged the fiscal-end overall inflation at 5 per cent, revised its forecast to 6.5 per cent and is expected to increase interest rate in January review of its monetary policy.<br/> <br/><br/>

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