High prices of food products are a matter of concern for the government

20-Aug-2024 03:21 PM

New Delhi. Despite all the government efforts, the expected decline in food inflation is not happening, while its prices are likely to increase even more in the festive season.

The interesting fact is that despite high prices, the demand for food products remains strong, due to which the prices are not coming down.

In fact, the prices of essential consumer products like rice, wheat, pulses, sugar and oil have already jumped to such a high level that now a little softening in it is not giving much relief to the consumers. On the other hand, the concern of the government is continuously increasing.

The surprising thing is that the government is implementing many measures from its side to control food inflation.

This includes liberalizing the import policy, imposing a ban on exports and imposing storage limits on some products, etc., but its positive results are not coming out.

It is affecting all expenses, service charges and production costs. The more the risk of food inflation increases, the more pressure the government will feel.

The Reserve Bank is also worried about food inflation. It is being said that the source of increase in prices of food products is outside the scope of monetary policy of RBI,

but when inflation spreads to other sectors due to food inflation, then necessary steps are required under monetary policy to control it.

RBI also has to work hard to maintain stability in prices and to maintain the confidence of common people.

Rice, wheat, sugar, pulses, oil and spices are essential food products for daily use, it is the responsibility of the government to ensure their proper supply and availability and to keep prices under control. Necessary efforts are being made for this.