Food price rise brings a trail of mired tears for Indians

Despite the Finance ministry coming up with rosy predictions for the growth of Indian economy at7.75% in 2010, the evil spell of high food inflation is a major concern for all and sundry. Union finance minister Pranab Mukherjee’s assurance that there was an adequate stock of wheat and rice has also failed to ease the soaring prices. On the week ending on Jan 2, India's annual food inflation based on the wholesale price index (WPI) stood at 17.28% compared to 18.22% during the week before- adversely affecting India’s population of more than one billion people
In the last decade, Wholesale food prices have sky rocketed so quickly that the central bank is now contemplating to roll in a monetary policy to stabilize the inflation. RBI rally needs to pull it socks to strike a balance in supporting an economic recovery while keeping inflation under control.
Monetary policy may not bring down the food prices however it can effectively help to curb inflationary pressures. Another good step that may bring some relief to countless Indians is Prime Minister Manmohan Singh’s decision of soliciting a comprehensive strategy from the Planning Commission to arrest the rise of sugar prices.
The kind of crisis we are facing at present is the result of government inaction against hoarders and black-marketers, who have indulged in gratuitous profiteering with impunity.
The central government decision asking state governments to fend for themselves in this grim situation goes only to show its lack of confidence on its impervious Food Minister who has only one solution of importing food from abroad.
In India, vote bank politics, widespread corruption and politically motivated agriculture policies have often been blamed for high prices and high food inflation. On paper we see so many schemes for rural development and agriculture but unfortunately everything last as long as the government lasts.