Mumbai:
The Prime Minister, Dr. Manmohan Singh, on Sunday
expressed the hope that the prices would come down very soon. Asked for his
comments on the issue, Dr. Singh who is campaigning in Maharashtra for the Congress
-NCP alliance, said: "The prices of some items were raised, and you all know
the reason for that. I am expecting a good Rabi crop in the coming season. If
we are able to get good crop in the Rabi season, the prices will naturally come
down." Dr. Singh said that he was of the view that the Indian economy is making
a slow but steady recovery, and added that measures taken to control the sharp
rise in food prices are having an effect. Singh said he was confident that the
harvest would be normal, despite the weakest monsoon since 1972 that has ravaged
rice and sugarcane fields. "The worst is indeed over. The price rise has been
due to the drought. Steps are being taken. I am confident the harvest will be
normal," he said. Singh had said earlier that the Indian economy is likely to
grow at 6.3 to 6.5 percent in the fiscal year to March 2010, or a seven-year low.
Economic stimulus measures were likely to continue as Asia's third-largest economy
was not operating at full capacity, Singh said.
