Prices of perishable items in India are within the tolerance band; Sitharaman apprises Parliament

Published Feb 6, 2024

Tridge summary

India's Union Finance Minister, Nirmala Sitharaman, has announced that the prices of perishable goods are beginning to decrease and are within the acceptable range, despite retail inflation being above the ideal 4%. The government has taken measures to address the supply shortage of these items, including importing about 8.79 lakh tonnes of tur dal in 2023, as the country heavily relies on imports for pulses. Additionally, the government is providing subsidized chana and onions to help citizens manage the cost of living, and has imposed export restrictions on onions to maintain reasonable domestic prices.

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Original content

New Delhi [India], February 6 (ANI): Union Finance Minister Nirmala Sitharaman on Tuesday said prices of perishable items have come down and are well within the tolerance band. “The prices have started coming down and are well within the tolerance band. Lots of steps have been taken by the government, particularly for meeting the shortage in supply of perishables,” Sitharaman said. Retail inflation in India, though, is in the RBI’s 2-6 per cent comfort level but is above the ideal 4 per cent scenario. In December, the retail inflation was 5.69 per cent. India does not grow enough pulses to meet its annual demand, and much of it is met through imports. “We don’t grow enough of pulses in this country. So pulse prices are (high) normally due to a shortfall in supply. in anticipation, depending upon the crop estimates, we tie up for imports,” the finance minister said. India imports tur dal from Mozambique, Myanmar, Tanzania, Sudan, and Malawi, and to a lesser extent from Kenya, and ...

Source: Theprint