Dr. C. Rangrajan calls for timely release of food grains to check food inflation
merisarkar news service
New Delhi, February 19, 2010
Timely release of food grain is necessary: Dr. Rangarajan
Dr. C. Rangrajan, the Chairman of the Prime Minister's Economic Advisory Council, has called for timely release of sufficient food grains below prevailing market prices to check the steep rise in food inflation.
Dr. 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 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 is also expected to be lower this year.
He said that this year Agriculture will record a negative growth of 0.2 per cent. The food inflation at present is around 18 percent.
He declined to comment on the projected food inflation but said overall inflation will be around to 8.5 per cent.
The economic out look of the advisory panel comes one week ahead of the union Budget.
