The government today said that food prices will come down within a fortnight. Speaking to reporters in New Delhi, chief economic adviser in the finance ministry, Mr. Kaushik Basu said food inflation will slow in coming weeks.He said on average, food price inflation has been zero since the end of November 2009. He, however, admitted that the inflation is high. Mr. Basu said Indian economy may expand more than 8.5 per cent in the current financial year. He quoted International Monetary Fund's latest forecast that India will grow this year at 9.4 per cent. Justifying the hike in petroleum products, Mr Basu said there was no escape from this as main ingredient for producing petrol and diesel are being imported. He said the finance ministry is working on to bring out a white paper on public debt.
News On AIR | July 16, 2010 4:49 PM
Food prices to come down within fortnight: Kaushik Basu