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| Worst over, price situation to improve with rabi crop: PM |
| Press Trust of India / Mumbai Oct 11, 2009, 15:40 IST |
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Attributing the rising food prices to specific reasons like drought, Prime Minister Manmohan Singh today exuded confidence that worst was over and situation would improve with the ensuing winter crop.
"Till now it seems the worst (on the price front) is indeed over," he said while replying to questions on the impact of drought on the prices of essential goods at a press conference here.
"Prices of some items have gone up due to specific reasons like drought. I am hopeful that we would have normal rabi (winter) crop ... And if it is normal it would surely have its impact on the situation," Singh said.
Although the overall inflation is below one per cent, the prices of essential goods, especially vegetables like potato and onion, have continued to rise relentlessly causing pain to common man.
Answering questions on the possibility of another farm debt waiver scheme, the Prime Minister said, "It will not be proper."
Pointing out that loan waiver scheme was a one-time measure, Singh said the government would try to find out meaningful solutions to the problems of farmers if they continue to face problems after implementation of the debt waiver scheme.
As regards the implementation of the Goods and Services Tax (GST), Singh said efforts were on to build consensus and introduce the new tax regime.
The government is proposing to implement the GST, which will subsume various taxes like excise, service tax and octroi, with effect from April 1, 2010.
Earlier, while addressing a conference of state food processing ministers, Singh had said, "The states should work towards early implementation of the GST while removing subjectivity in treatment and classification of food products."
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