A crucial meeting was held at the residence of Prime Minister Narendra Modi in New Delhi,to discuss issues of rising prices of essential commodities, food security and poor monsoon.

The meeting was attended by Finance Minister Arun Jaitley, Agriculture Minister Radha Mohan Singh and Food Minister Ram Vilas Pawan.

Our correspondent reports that there has been 45 per cent less rainfall during this monsoon season in the country so far.

The India Meteorological Department said, the country has received 43.4 mm of rainfall as compared to normal rain of 78.8 millimeter from 1st of June to 17th of this month.

However, the condition is expected to improve in July and August.

The government today imposed a minimum export price, MEP, of 450 dollars per tonne on potatoes to increase domestic availability and contain rising prices.

The Directorate General of Foreign Trade in a notification said that export of potatoes is permitted subject to MEP of 450 dollars per tonne. The MEP comes into immediate effect, it said. Prices of potatoes have risen to about Rs 25-30 per kg in the national capital.

Earlier, the Centre had imposed MEP of 300 dollars per tonne on onion on 17th of this month.

As part of government's effort to rein in food prices, Finance Minister Arun Jaitley had announced that the government will impose export curbs in form of higher MEP on onion and potatoes. Rising prices of essential food items like vegetables, fruits and cereals pushed up wholesale price index based inflation to five-month high of 6.01 per cent last month.