
India is facing inflating food prices right after the worst drought faced by her in 37 years. The country is very sensitive to food price inflation as food products form a major part of the Indian consumption basket.
The Finance minister said, “Food prices are an area of concern. We have to take appropriate measures to see what best can be done by augmenting the supply through imports.”
The country’s annual food inflation rate climbed to 19.95 per cent for the week ended December 5. The spike has comes just after what has been dubbed India’s worst drought in 37 years, which sharply trimmed production of grain and other farm goods.
The Agriculture minister has conveniently blamed this crisis to Global Warming.
For the full story, click here
No comments:
Post a Comment