Inflation is spiraling and affecting the common man’s budget and savings. Wholesale food prices jumped 15.7 percent in January compared with 13.6 percent in December, fuelling fears that food inflation is leading to sustained price rises in other sectors of the USD 1.3 trillion economy.
Global food prices are also at a record high, prompting a stark warning by the World Bank chief that prices had reached "dangerous levels". World Bank data showed that high prices of food, mainly wheat, maize, sugars and edible oils, have pushed 44 million more people in developing countries into extreme poverty since June 2010.
In commitment towards controlling high double digit food inflation, Pranab Mukherjee may as well unleash some crucial measures in this Budget including opening up of more procurement and distribution centers for food grains, promoting greater investment in agri infrastructure and increased expenditure on irrigation in a bid to enhance overall farm sector productivity.
What is your say? Will budgetary measures finally bell the cat.