Sachinism Posted December 18, 2009 Share Posted December 18, 2009 Food prices in India have risen to a high of nearly 20% over last year, the highest rate in a decade. The federal finance minister Pranab Mukherjee has said the government was planning to import food to ease prices. A short supply of food due to lower farm produce following drought and floods has led to the rising prices. Overall inflation in India has risen to 4.78% in November, up from 1.34% in October. Economists say this could trigger a rise in interest rates. Correspondents say that the price rises are bound to increase concerns that poorer people in the country may be more exposed to food shortages and malnourishment. Finance minister Pranab Mukherjee said that the food prices were an "area of concern." "We have to take appropriate measures to see what best could be done by augmenting the supply through imports," he was quoted as saying by the Press Trust of India news agency. Reports say that despite easing of import restrictions to bolster food supplies, food inflation had soared to nearly 20%. The prices of pulses, milk, wheat and rice - and vegetables like potatoes - have risen sharply. Potato prices have gone up by 136% and pulses have risen by over 40% over last year. Senior government officials have said that overall inflation in India could be close to 7% by end of March next year. http://news.bbc.co.uk/1/hi/world/south_asia/8419799.stm Link to comment Share on other sites More sharing options...
Holysmoke Posted December 18, 2009 Share Posted December 18, 2009 Its crazy. Bananas that used to be 15-20 rs a dozen are now 40 rs a dozen. I went to buy some dal recently and it was 100rs/kilo Link to comment Share on other sites More sharing options...
gs Posted December 18, 2009 Share Posted December 18, 2009 Wonder how a modest lower middle class family can survive in this?!?! Dont think the salaries of a clerk or teacher has gone up so much as to compensate for this steep prices in the last decade or so. Link to comment Share on other sites More sharing options...
yoda Posted December 18, 2009 Share Posted December 18, 2009 get more efficient in producing and storing. i guess easier said than done. Link to comment Share on other sites More sharing options...
kabira Posted December 20, 2009 Share Posted December 20, 2009 Its shame. Govt. should have been prepared. They would have known about drought. ManMohan Singh's agenda was to bring back Indian economy on track in 100 days and guess what he has failed to even control prices. The prices have gone over the roof. Link to comment Share on other sites More sharing options...
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