Saying that onion prices have come down after soaring to unprecedented levels, union Finance Minister Pranab Mukherjee on Sunday exuded confidence that the situation will soon be under control.
Speaking to reporters in Kolkata, Mukherjee said the government was taking all possible steps to reduce the prices, but pointed out that prices of seasonal fruits and vegetables had risen because of the demand-supply gap.
"Export of onion has been banned and the import duty has been made zero; besides some imported onions are reaching the market. The prices have come down," he said.
"The government is taking all possible steps and things will be in control soon".
"Some fruits, vegetables and milk have an element of seasonality. And sometimes in the market there is gap in the demand and supply of products, leading to the increase in their prices," the finance minister said.