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Containing inflation high on agenda: Finmin

The finance ministry today told the Lok Sabha that containing price rise is high on its agenda and said it took several measures to check inflation.

business Updated: Apr 16, 2010 23:14 IST

The finance ministry on Friday told the Lok Sabha that containing price rise is high on its agenda and said it took several measures to check inflation.

"The government monitors the price situation regularly, with price stability being high on its agenda," minister of state for finance Namo Narain Meena said in a written reply to the Lok Sabha.

The overall inflation according to the latest data, touched a 17-month high of 9.9 per cent in March, while the food inflation is hovering at 17.22 per cent.

Recalling the steps taken by the government to contain price rise of essential commodities, Meena cited measures such as selective ban on exports and futures trading in food grains, and zero import duty on select food items.

Removal of restrictions on licensing, stock limits and movement of food articles under the Essential Commodities Act of 1955, permitting imports of pulses and sugar by public sector undertakings, distribution of imported pulses and edible oils through the PDS and release of higher quota of non-levy sugar were some of the steps, he said.

In addition to that, a standing core group of chief ministers and central ministers concerned was constituted on March 15 to discuss issues related to prices of essential commodities with Ministry of Agriculture as nodal agency.

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