‘Globally, India a bright spot, has sufficient wheat to manage prices’
Commerce and industry minister Piyush Goyal is travelling through Rajasthan as part of the Modi government’s outreach programme. Over the weekend, in Rajasthan’s Bharatpur, he attacked the Ashok Gehlot government, referring to it as the ‘Geh-loot Sarkar’, and accused the regime of corruption. In an interview with TOI’s Sidhartha , he discussed the trade talks with the UK and other countries and suggested that there is scope for flexibility on the bilateral investment protection agreement. Although the minister ruled out a blanket review of the restrictions imposed on Chinese investments, he said that decision will be taken on a case-to-case basis. Goyal, who also holds the food portfolio, assured that there is no price pressure and the government is keeping close tabs on the situation. Excerpts:
Open market sale of wheat has started very early. What is the rationale given that it has generated fear that wheat prices may be under pressure?
This is a government that is very focused on making equitable availability of food grains and other products, at affordable prices. We want to ensure that wheat prices remain at reasonable levels and we thought it prudent to start open market sales (OMS) earlier so that nobody feels the pinch of inflation. We have sufficient buffer stocks to manage prices.
Tur dal prices are also under pressure. Do you see that as a challenge?
Production has been lower but fortunately there is good availability internationally. So, we will be able to manage supplies. Compared to anywhere in the world, India is a bright spot on inflation. Inflation will remain in the 4-5% range when the whole world is stuck with high prices.
There is a controversy around the Congress government’s foodgrain scheme in Karnataka, which is accusing the Centre of stopping them from implementing the scheme…
Not at all. They never asked us before announcing the scheme. We have a certain stock available with us, which is being put to good use by making it available across the country. They are free to procure in the market and fulfil their commitment of 10 kg per person. I hope they do not cheat the people of Karnataka by passing on only 5kg per person and adding what PM Modi has been giving free of charge. They had promised 10 kg and they should give 10 kg in addition to what the Centre is giving free of charge.
