The government Monday said it was bullish about rabi (winter) crops, adding this would lower inflationary pressure on food prices.
“With good prospects of rabi, we are hopeful of food prices coming down,” Commerce and Industry Minister Anand Sharma told delegates at a bankers’ meet here.
“We don’t have a situation of needing to import wheat or rice,” Sharma added.
India’s annual food inflation based on the wholesale price index stood at 18.22 percent for the week ended Dec 26, with potatoes getting dearer by a whopping 110 percent, pulses by 42.21 percent and onions by 40.07 percent over a 52-week period.
Primary articles were costlier by 14.39 percent, and fuels by 4.85 percent.
–Indo-Asian News Service