https://sputniknews.in/20230818/indian-govt-may-allocate-12-bln-to-curb-inflationary-pressures-report-3684887.html
Indian Gov’t May Allocate $12 Bln to Curb Inflationary Pressures: Report
Indian Gov’t May Allocate $12 Bln to Curb Inflationary Pressures: Report
Sputnik India
Indian government may reallocate about $12 billion from the budget of various ministries to curb food and fuel inflation, reported media house.
2023-08-18T17:15+0530
2023-08-18T17:15+0530
2023-08-18T17:15+0530
india
government of india
minimum support price (msp)
fuel prices
narendra modi
export embargo
wheat export
wheat export ban
political affairs
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India's federal government may reallocate about $12 billion from the budget of various ministries to curb food and fuel inflation, a media report has said. Indian Prime Minister Narendra Modi may announce the decision in the following weeks regarding “reducing petrol costs and ease import levies on essential commodities such as cooking oil and wheat,” a Western media outlet reported, citing an unofficial source.The inflation in vegetables and staple grain prices is taking place after several regions of the country witnessed uneven weather patterns last year, and then in March and April this year. The Indian government banned the export of wheat in 2022, and non-basmati rice varieties in July this year.India has entered its festive season, which will last until mid-November (the festival of lights - Diwali), which will then be followed by state elections. The country is set to hold parliamentary elections in April-May 2024.
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inflation, food inflation, fuel inflation, cooking oil, wheat ban, national election, export of wheat in 2022, banned export of non-basmati rice, india aims to allocate $12 billion to address inflationary pressures: report, pm to allocate $12 billion to address inflationary pressures
inflation, food inflation, fuel inflation, cooking oil, wheat ban, national election, export of wheat in 2022, banned export of non-basmati rice, india aims to allocate $12 billion to address inflationary pressures: report, pm to allocate $12 billion to address inflationary pressures
Indian Gov’t May Allocate $12 Bln to Curb Inflationary Pressures: Report
Deexa Khanduri
Sputnik correspondent
Inflation in India has surged to a 15-month high, while the cost of staple foods such as rice, tomato, and onion, among others is also increasing, with the Central Bank keeping an eye on the consumer market.
India's federal government may reallocate about $12 billion from the
budget of various ministries to
curb food and fuel inflation, a media report has said.
Indian Prime Minister Narendra Modi may announce the decision in the following weeks regarding “reducing petrol costs and ease import levies on essential commodities such as cooking oil and wheat,” a Western media outlet reported, citing an unofficial source.
The inflation in vegetables and staple grain prices is taking place after several regions of the country witnessed
uneven weather patterns last year, and then in March and April this year.
The Indian government banned the export of wheat in 2022, and non-basmati rice varieties in July this year.
India has entered its festive season, which will last until mid-November (the festival of lights - Diwali), which will then be
followed by state elections. The country is set to hold parliamentary elections in April-May 2024.
