Ahead of festive season like Holi, Ramadan and others, the central government is ramping up efforts to keep essential goods price rise in check. The rising prices of essential items have prompted the government to closely monitor the situation. A high-level meeting with all relevant departments is expected to take place next week, with discussions involving stakeholders anticipated soon, reported Zee Business.
According to the news report, the government is regularly monitoring prices and will ensure that the prices of essential items do not rise rapidly ahead of the festival season.
To safeguard consumers, the government may also instruct states to take action against hoarding and profiteering while ensuring better availability in the wholesale market, Zee Business reported. Reports from various departments will be reviewed at the upcoming Inter-Ministerial Committee (IMC) meeting.
Driven by easing food prices, India’s consumer price index (CPI)-based retail inflation fell to a five-month low of 4.31 per cent in January from 5.22 per cent in December.
