No need to panic over price rise: PM

No need to panic over price rise: PM

New delhi: Stating that there was no need to panic over price rise of essential commodities, Prime Minister Manmohan Singh on Saturday asserted the worst was over and food prices would be stabilised soon.

However, he called upon the states to overhaul the Public Distribution System and develop market intervention mechanism.

``I believe the worst is over as far as food inflation is concerned,`` he said while addressing a meeting of Chief Ministers over the issue here. He was also confident that the government would be able soon to stabilise food prices.

As there was adequate stock of rice and wheat in the Central Pool to maintain food security, Manmohan Singh said as such there should be no panic on the food situation front considering the comfortable level of food stocks that were available with the Central Government.

February 6, 2010

Kerala

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