The Prime Minister’s Economic Advisory Council has called for timely release of sufficient food grains below prevailing market prices to check the rising food inflation. Addressing a press conference in New Delhi today the Chairman of the Council R.C. Rangrajan expressed the hope that the prices of the food articles will come down in the next two to three months with expectations of a good Rabi season. He called for advance planning for timely imports of food grains and development of distribution channels to address the food price issue. Dr. Rangrajan said that the stocks of wheat and rice are adequate but Kharif output of rice is estimated to be lower by 12 million tones. The output of pulses, oilseeds and sugar cane will be less. Agriculture will record a negative growth of 0.2 per cent. The economic out look of the advisory panel comes one week ahead of the union Budget. The food inflation at present is around 18 percent.He refused to give the projections about food inflation but said overall inflation wily be around to 8.5 per cent. Dr. Rangrajan cautioned that there is a danger of significant transfer of food price inflation to general price level in the next fiscal.Dr. Rangrajan projected more than 7.2 percent growth this fiscal. He added that higher growth is possible mainly due to strong rebound in the third and the fourth quarter particularly in the industrial sector. He said that the GDP would reach 8.2 percent in the next fiscal and may touch nine percent in 2011-12. Giving details he said, the Industry including the construction sector touched 8.6 percent and the services 8.7 percent in the current financial year. AIR correspondent reports that economic advisory council called for striking a balance between growth and containing fiscal deficit.