Finance Minister Pranab Mukherjee today 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 percent for the week ended December 5 on rising prices of essential food items like potato, other vegetables and pulses.<br/><br/>A host of steps, including zero import duty on wheat, pulses and crude edible oil 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.
News On AIR | December 17, 2009 7:01 PM
FM assures import of essential commodities as food inflation touches ten-year high