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  3. Centre-state coordination required to check rising inflation: Prime Minister

Centre-state coordination required to check rising inflation: Prime Minister

27 Jun 2014 Evaluate

Amid fears that weak monsoon could swell inflation further, Prime Minister Narendra Modi expressed the need for close coordination between the centre and states on implementing contingency plans. Narendra Modi stated that both the centre and states need to proactively mount a coordinated effort in implementing the advance action plan for the monsoon, with districts, rather than states, being the unit of planning. Adequate water, power and seed supply to be ensured to the farmers so that the production is not affected due to scant rainfall. On weak monsoon, Narendra Modi asserted that monsoon in the country has remained weak so far, but it is likely to improve substantially in the next two months. 

Prime Minister also asked states to set up fast-track courts to deal with hoarders and black-marketers. Steps taken to contain inflation have shown positive effect with adequate rice stocks reaching the markets and there is now no shortage of onion stocks in the national capital Delhi. Prime Minister also emphasized on ensuring adequate power and seed availability for the agricultural sector.

The Indian Meteorological Department (IMD), in its second-stage long-range forecast for the 2014 southwest monsoon, has highlighted that southwest monsoon may be remain below normal with the country likely to receive 93 percent of the long-period average (LPA) rainfall. Till June 17, the country has received 45 percent less rainfall in the first spell. Weak monsoon can hamper the supply of food articles which in turn will raise inflation in the country.  WPI inflation rose to five month high at 6.01% y-o-y in the month of May as against 5.20% in April. Inflation in food articles increased by 9.50% y-o-y in May as comparison to 8.64% in April.   

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