Surplus stocks of foodgrains would help the country cope comfortably, added Arun Jaitley
Consumer price inflation in February edged up for the third straight month, mainly driven by food prices (Representational Image)
New Delhi: India's unseasonable rainfall has damaged some crops and could stoke food price inflation and some shortages, though surplus stocks of foodgrains would help the country cope comfortably, said Finance Minister Arun Jaitley.
"The damage to the crops and its consequential effects would be there. It could impact on inflation. It could impact on certain (food) shortages," Jaitley told television channel on Saturday.
"But then since we've surplus as far as the foodgrains are concerned, we can cope with the issue of shortage comfortably," said Arun Jaitley.
Heavy and untimely rain in northern and central India's wheat bowl earlier this month is expected to trim output from the new season crop. Underscoring the risk of a rebound in inflationary pressures from rising commodity prices, consumer price inflation in February edged up for the third straight month, mainly driven by food prices.
( Source : reuters )
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