Sunday, May 23, 2010

World has benign view of India’s rise: Manmohan Singh

Manmohan Singh

Prime Minister Manmohan Singh on Friday, express March 5, but apprehension over rising food prices, said the administration would take steps to control price rise.

Dr. Singh is likely to ask to get better the public sharing system (PDS) and an increase in farm output.

The meeting will also review the completion of the essential merchandise act to check hoarding of food.

The meeting comes just days after a Congress Working Group (CWC) over prices; Agriculture Minister Sharad Pawar came under fire for his conduct of the crisis. Many Congress leaders hit out at Minister without actually mention him.

Congress Party has knowledgeable flak from various disagreement parties in the rising prices of essential merchandise.

The Wholesale Price Index rose 7.3 percent in December from the preceding year, the highest since November 2008 and accelerates from 4.8 per cent gain in November.

The add to was driven by nearly 20 percent jump in food prices, which rose on the weak torrential rain rains and flooding in parts of the realm, but inflation in developed products rose to 5.2 percent from four percent in November, a sign that inflation pressures had spread to other sectors of the financial system.

Sugar, has been chiefly a problem with the Congress Party caught in the middle of rival demands from clientele who want lower prices, while sugar cane farmers seeking higher prices for their foodstuffs.

The supply situation deteriorate further in recent months, after Uttar Pradesh, which tries to help cane farmers forbade processing raw, jamming 750 000 tonnes of raw gate.

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