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Inflate Expectations, Not Prices: SRIRAM'S IAS Insights



  Sep 15, 2023

Food Inflation in India


Inflate Expectations, Not Prices: Learn with SRIRAM'S IAS

What is the current food inflation rate in India?

A: As of August 2023, India's food inflation stands at 9.9%, down from its recent peak of 11.5% in July.
 

Why has food inflation been on the rise?

A: Adverse weather conditions, supply chain disruptions, increased transportation costs, and global commodity price fluctuations have contributed to the recent rise in food inflation.

How does food inflation impact the economy?

A: High food inflation affects food and nutritional security, especially among economically weaker sections of the population, and can lead to economic instability.
 

Which food items have seen significant inflation?

A: Pulses, cereals, and edible oils have experienced double-digit inflation, with prices of some pulses rising to alarming levels.
 

What measures can be taken to address food inflation?

A: To combat food inflation, there is a need to expand domestic production of essential food items, invest in agricultural research and development (R&D), and promote climate-resilient agricultural practices.
 

How can the government ensure self-sufficiency in food production?

A: Enhancing funding for agricultural R&D and the National Adaptation Fund for Climate Change (NAFCC) is crucial to mitigate the risks associated with climate change and ensure food and nutritional security.
 

Are there any short-term solutions to control food inflation?

A: In the short term, incentivizing pulses production and adopting yield-enhancing technology can help address the rising prices of essential food items.
 

What is the role of climate-resilient practices in agriculture?

A: Climate-resilient agricultural practices, including the development of high-yielding and climate-adaptive crop varieties, are essential to meet rising demand and ensure food security.
 

How does food inflation impact edible oil imports?

A: Despite an increase in oilseeds' production, India heavily relies on edible oil imports, which can lead to increased dependence on foreign sources when prices rise.

What is the current funding status of agricultural R&D and NAFCC?

A: Agricultural R&D funding is less than 1% of agricultural GDP, while NAFCC funding has significantly decreased from Rs.118 crore in 2015-16 to Rs. 34 crore in 2022-23.
Please note that food inflation is a complex issue influenced by various factors, and addressing it requires a multi-dimensional approach.


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