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Thursday, December 17, 2009

Govt to consider imports to boost food supply - Mukherjee

The finance minister said on Thursday that rising food prices was an area of concern and would consider imports to augment food supply.

"Food prices are going up, this is an area of concern. We have to take some appropriate measures... but best could be done by augmenting supply through imports," Pranab Mukherjee told reporters.

India's food prices rose 19.95 percent in first week of December from a year earlier, its fastest in 2009, and adding pressure on the central bank to tighten monetary policy.

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Economic Event Calendar

GMT+5:30 Event Vol. Actual Consensus Previous
Monday, Jun 09
19:30 Wholesale Inventories 1 0.2% 0.0% 0.0%
21:00 3-Month Bill Auction 1 4.25% 4.25%
21:00 6-Month Bill Auction 1 4.15% 4.15%
Tuesday, Jun 10
04:31 BRC Like-For-Like Retail Sales (YoY) 2 2.7% 6.8%
06:00 Westpac Consumer Confidence 2 2.2%
07:00 National Australia Bank's Business Conditions 1 2
07:00 National Australia Bank's Business Confidence 1 -1
11:30 Average Earnings Excluding Bonus (3Mo/Yr) 2 5.4% 5.6%
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