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May 04, 2007 14:27 IST Last Updated: May 04, 2007 15:26 IST
Admitting that rising prices of essential commodities like pulses and edible oils have affected the common people, government said on Friday that measures already initiated will be intensified to ease the situation.
A two-pronged strategy has been adopted to tackle inflation both in the short term and in the long term, said Finance Minister P Chidambaram.
Government has taken a slew of measures like cutting excise and customs duties on commodities to ease the situation immediately while the monetory policy initiatives taken by the Reserve Bank of India will take some time to show impact.
On correcting the supply-demand mismatch of essential goods, he said supply can be augmented either by way increased procurement within the domestic market or through imports.
"I hope agriculture minister will take decision in this regard," he said in Lok Sabha while reolying to questions on price rise. "Whatever way it is done, it will have full support of the government," Chidambaram said.
He denied that public distribution system was not used effectively to check the price rise saying the system has been strengthened and wheat, sugar, paddy and kerosene oil are being supplied continuously.
On the question of adding pulses in PDS, the minister cautioned that it has to be considered 'very carefully' in view of the deficit in the country.
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