RTTN: Indian Govt. Expects To Bring Down Price-Rise
(RTTNews) - India's Finance Minister Pranab Mukherjee said Monday a committee had been formed to review the price situation regularly as food inflation galloped over 17%.
Surge in prices of essential commodities would be brought under control soon, he said after receiving the Indira Gandhi Gold Plaque at the Asiatic Society in Kolkata.
Mukherjee concurred with the imbalance between demand and supply, and the government took the initiative to augment the supply line to bridge the gap.
The government on Saturday formed a committee, comprising Chief Ministers of 10 states along with the Finance Minister, Food and Agriculture Minister Sharad Pawar and Planning Commission Deputy Chairman Montek Singh Ahluwalia to suggest measures to check soaring prices and revamping of the public distribution system. It also took some concrete steps like liberalizing imports and removal of duties.
The wholesale price-based general inflation, from sub-zero level last year, crossed 7% in December and is estimated to rise to 8.5% by March.
