NEW DELHI: Retail inflation has come down to within the tolerance band due to steps taken by the government to check price rise in essential commodities, especially in perishable commodities, finance minister Nirmala Sitharaman told Rajya Sabha on Tuesday.
Replying to a question in the Rajya Sabha, Sitharaman said that steps are being taken now so that the preservation of very highly perishable commodities like onion can be improved. “Bhabha Atomic Research Centre (BARC) is working with the government on de-humidification of onions through gamma rays and give it a longer shelf life,” she said.
Onion prices have fallen by over 70% after the government banned exports to cool prices in December. As of 3 February, the government has released 396,000 metric tonnes of onions at Rs 25/kg in the market. Import restrictions have also been changed so that prices of onions can be kept within a reasonable limit.
“Similarly, such steps have been taken for tomatoes and other perishable goods as well. So, the government is seized of the difficulties which arise due to a shortage of perishable goods which are not grown in India. A committee sits and reviews periodically and the efforts have shown on the ground that inflation is now within the tolerable band,” she stated.
Inflationary pressures moderated in FY24 (April-December), with average retail inflation easing to 5.5%, within the notified tolerance band of 2 to 6%. Sitharaman said several steps have been taken by the government, particularly to meet the shortage in supply of perishable goods. “Since we don’t grow enough pulses in the country and due to a shortfall in supply, prices of pulses normally keep fluctuating, for which, by analyzing the crop estimates, we start tying up for imports,” she said.
“We imported 879,000 metric tonnes of Tur Dal and 1.51 million metric tonnes of Masoor Dal in calendar year 2023. Similarly, we imported other dals as well and released them in the market.”
The government has also brought the branded ‘Bharat Dal’ through which chana dal is made available at Rs 60/kg for one kg pack and Rs 55/kg for 30 kg packs. About 297,000 metric tonnes of chana have been sold already as of January 30, 2024. The ‘Bharat Dals’ which is coming at a concessional price is available in all retail markets. The government, which had launched wheat flour ‘Bharat Atta’ at affordable rates, has now launched ‘Bharat Rice’.
Source: The Financial Express
The post Inflation Within Tolerance Band Due To Government Steps: FM Sitharaman first appeared on Latest India news, analysis and reports on IPA Newspack.
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