Food and Agriculture Minister Sharad Pawar today said worst on food inflation front is over and the prices have started coming down, and would ease further in the coming weeks.<br/><br/>Mr Pawar told reporters at the Indian Women's Press Corps in New Delhi that Indian consumers and farmers should look forward for better times. Food inflation today increased by 0.40 to 16.44 per cent for the week ended May 1.<br/><br/>Mr Pawar also admitted that it was a big challenge to balance the interest of farmers and consumers. Explaining the reasons behind the price rise, the minister noted that steep hike in the minimum support price (MSP) of foodgrains has driven prices to some extent.<br/><br/>Besides, the opening of the economy and integration with the global market also has direct and indirect impact on prices of essential commodities.<br/><br/>Mr Pawar also ruled out that the there is a delay in implementation of the proposed Food Law because of likely rise in food subsidy.
News On AIR | May 13, 2010 8:56 PM
Worst on food inflation front over, prices would ease further: Pawar