Inflation hits people, prices of pulses go sky high

The government though announced measures to curb price rise, it still hasn’t learned from the past

GN Bureau | June 17, 2016


#Inflation   #price rise   #pulses   #tomatoes   #governance  


That time of the year has come again when basic commodities try to shrug off their ‘basic’ tag. Providing sudden unrest to the public’s budget, this trend is invariably seen every year, and so has it now as prices of pulses reach triple figures. 

Pinching people’s pockets, the prices of pulses have jumped to as much as Rs 200 per kg. In this category, urad dal is selling at Rs 190-200 per kg while the price of chana dal is touching Rs 100 per kg, and so is masur dal. Moong dal is selling at Rs 125 per kg while tur dal costs Rs 150-160 per kg.
Meanwhile, tomatoes have already been selling anywhere between Rs 50 and Rs 100 per kg for the past few days.

The finance minister Arun Jaitley has held a meeting with ministries of food and agriculture and decided to enhance the buffer stock of pulses from 1.5 lakh tonne to 8 lakh tonne. A number of other meetings among consumer affairs ministry, income tax department, enforcement directorate and intelligence bureau and various state governments, have also been held to address the issue.

Everyone has been assigned specific roles: the enforcement agencies to check hoarding, state governments to sell pulses at subsidised rates from the buffer stock and put a cap on prices, Sebi to suspend trading in chana.

In preventive measures, the Centre has decided to impose 20 percent export duty on sugar and 25 percent on wheat. The government has also approved import of pulses and lentils. Teams would also be visiting Mayanmar and Mozambique for long-term pulses contract. 

While hoarding and middlemen usually remain the main causes of price rise, drought too has affected supplies this year. 

But a lot could have been averted had the government taken these measures much earlier. Similar was the case with drought management; it was only when the situation went out of hands that the governments started scuttering around. For now, the government would need to act swiftly to bring prices under control.

Read our last year's ground report and analysis
 

Comments

 

Other News

World growth expected to face inflation pressures

World GDP forecasts for 2023 have been revised down again as central banks intensify their fight against inflation and the outlook for China’s property market deteriorates, says Fitch Ratings in its latest Global Economic Outlook (GEO) report. Fitch now expects world GDP to grow by 1.4

200+ bird species documented in Chhattisgarh’s first-ever survey

Nine species of owls (including the magnificent spot-bellied eagle-owl), 10 birds of prey, 11 species of Woodpeckers (including white-bellied woodpecker – the largest woodpecker in peninsular India), and many other species have been documented during a first-ever bird survey in Chhattisgarh.

Cyclists plan ‘memorial ride’ to press demand for infrastructure

Cycling is a passion for many, and it is a way to fitness too. With rising numbers of vehicles on the road, the government encourages this environment-friendly mode of transportation, but it comes with numerous challenges. An accident last month on the Mahipalpur flyover of south Delhi, which took the life

“World headed towards stagflation; India must take care of the poor”

As the post-pandemic fallout and geopolitical uncertainty slows down global economies and sanctions against some nations, energy crisis and inflation are adding to the troubles, India is projected to be decoupled from world economy and fare better. To check if this belief really holds water, in the latest

The changing nature of CSR in India

With the advent of globalization came a new set of challenges for corporations, notably the duty of ensuring the well-being of all stakeholders while also protecting the planet`s natural environment. Although we are dedicated to a faster and more inclusive rate of growth, it is equally imperative that we f

BMC commissioner Chahal conferred with hon. doctorate

BMC commissioner and administrator Iqbal Singh Chahal has been conferred with a Honorary Doctor of Science Degree (honoris causa) by Guru Nanak Dev University in Amritsar, Punjab. Chahal was conferred the degree during the 48th convocation of the University in Amritsar at the hands of Punjab

Visionary Talk: Amitabh Gupta, Pune Police Commissioner with Kailashnath Adhikari, MD, Governance Now


Archives

Current Issue

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter