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  #1  
Old January 8th, 2011, 02:35 PM
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Thumbs up Govt steps pulled down onion prices by Rs10-15 a kg: Pranab Mukherjee

Govt steps pulled down onion prices by Rs10-15 a kg: Pranab Mukherjee


Published: Saturday, Jan 8, 2011, 23:39 IST
Place: Mumbai | Agency: PTI

Finance minister Pranab Mukherjee today said onion prices have moderated by Rs10-15 per kg after the government took steps to augment supply of the vegetable, whose rates had skyrocketed to Rs80/kg last month.

"(Onion) prices have come down, however, by Rs10-15 per kg. There is a mismatch between demand and supply... have requested the chief ministers to collectively keep prices in check," Mukherjee told reporters here.

The retail prices of onion had touched a peak of Rs70-85 per kg on December 22, 2010 due to sluggish supply in the wake of crop damage in Maharashtra due to unseasonal rains.

However, prices declined after government took steps by I-T searches on traders and by removing the import duty and facilitating more import of the vegetable. However, the efforts suffered a setback after Pakistan banned onion exports to Attar-Wagah land route.

Mukherjee said there is a big difference in wholesale price and retail price of onion, adding, that I-T raids in the premises of different traders have also helped in reducing prices.

There has been a "dip in onion prices in some states after I-T search", he said.

However, Pakistan has refused to export onions to India through road, which may blunt the impact of customs duty removal.

Mukherjee said the Centre alone cannot reduce the prices, and the help of states is required to check them.

"A crisis cannot be checked by the central government alone...PDS (Public Distribution System) to be revamped by the state government," Mukherjee said.

Yesterday, the finance minister had written to all chief ministers to take steps to crack down on hoarders and remove supply bottlenecks in onions.

On hardening of international crude oil prices, Mukherjee said a balance has to be struck between moderating inflation and reducing losses of oil PSUs because of high global crude rates.

"The crude has increased to $92 per barrel, naturally there will be an impact on OMCs (oil marketing companies)... At the same time there is inflationary trend...Cannot allow PSU OMCs to suffer due to under recovery," Mukherjee said.

International crude oil prices have hardened to over $90 per barrel and an increase in prices of petroleum products will further spike inflation.

Petroleum products along with electricity and other energy items contribute over 14% to inflation.

The state-owned oil firms are likely to incur a revenue loss of Rs72,812 crore this fiscal on selling diesel, LPG and kerosene below cost.

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  #2  
Old January 8th, 2011, 07:50 PM
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Re: Govt steps pulled down onion prices by Rs10-15 a kg: Pranab Mukherjee

Quote:
Originally Posted by echarcha View Post
Govt steps pulled down onion prices by Rs10-15 a kg: Pranab Mukherjee


Published: Saturday, Jan 8, 2011, 23:39 IST
Place: Mumbai | Agency: PTI

Finance minister Pranab Mukherjee today said onion prices have moderated by Rs10-15 per kg after the government took steps to augment supply of the vegetable, whose rates had skyrocketed to Rs80/kg last month.

"(Onion) prices have come down, however, by Rs10-15 per kg. There is a mismatch between demand and supply... have requested the chief ministers to collectively keep prices in check," Mukherjee told reporters here.

The retail prices of onion had touched a peak of Rs70-85 per kg on December 22, 2010 due to sluggish supply in the wake of crop damage in Maharashtra due to unseasonal rains.

However, prices declined after government took steps by I-T searches on traders and by removing the import duty and facilitating more import of the vegetable. However, the efforts suffered a setback after Pakistan banned onion exports to Attar-Wagah land route.

Mukherjee said there is a big difference in wholesale price and retail price of onion, adding, that I-T raids in the premises of different traders have also helped in reducing prices.

There has been a "dip in onion prices in some states after I-T search", he said.

However, Pakistan has refused to export onions to India through road, which may blunt the impact of customs duty removal.

Mukherjee said the Centre alone cannot reduce the prices, and the help of states is required to check them.

"A crisis cannot be checked by the central government alone...PDS (Public Distribution System) to be revamped by the state government," Mukherjee said.

Yesterday, the finance minister had written to all chief ministers to take steps to crack down on hoarders and remove supply bottlenecks in onions.

On hardening of international crude oil prices, Mukherjee said a balance has to be struck between moderating inflation and reducing losses of oil PSUs because of high global crude rates.

"The crude has increased to $92 per barrel, naturally there will be an impact on OMCs (oil marketing companies)... At the same time there is inflationary trend...Cannot allow PSU OMCs to suffer due to under recovery," Mukherjee said.

International crude oil prices have hardened to over $90 per barrel and an increase in prices of petroleum products will further spike inflation.

Petroleum products along with electricity and other energy items contribute over 14% to inflation.

The state-owned oil firms are likely to incur a revenue loss of Rs72,812 crore this fiscal on selling diesel, LPG and kerosene below cost.

LINK
he must be on crack,because i just brought onions at 70 a kilo ,this morning.
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  #3  
Old January 8th, 2011, 09:38 PM
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Re: Govt steps pulled down onion prices by Rs10-15 a kg: Pranab Mukherjee

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Originally Posted by milanfanabhi View Post
he must be on crack,because i just brought onions at 70 a kilo ,this morning.
Which must have been Rs 90 to 100 before as per newspaper reports just a few days ago.
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Old January 8th, 2011, 09:49 PM
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Re: Govt steps pulled down onion prices by Rs10-15 a kg: Pranab Mukherjee

Quote:
Originally Posted by echarcha View Post
Which must have been Rs 90 to 100 before as per newspaper reports just a few days ago.
No sir,it was 50-60 few days ago
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Old January 8th, 2011, 09:56 PM
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Re: Govt steps pulled down onion prices by Rs10-15 a kg: Pranab Mukherjee

yesterday at shanibaazar(saturday market) in jalandhar it was Rs 55/kg

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  #6  
Old January 9th, 2011, 04:10 AM
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Re: Govt steps pulled down onion prices by Rs10-15 a kg: Pranab Mukherjee

Quote:
Originally Posted by echarcha View Post
Which must have been Rs 90 to 100 before as per newspaper reports just a few days ago.
no it was 50-60
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  #7  
Old January 9th, 2011, 06:11 AM
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Re: Govt steps pulled down onion prices by Rs10-15 a kg: Pranab Mukherjee

Quote:
Originally Posted by echarcha View Post
Which must have been Rs 90 to 100 before as per newspaper reports just a few days ago.
pranab made that statement specially for you

onions reached peak of around 70 a kg. then the news of importing from dear neighbour came.
pawar saheb, in his typical calm composed style, made a stmt saying that it will be a few weeks b4 prices come down.
the prices hardly came down. weeks have passed now and they are again almost at peak.
recently there were news about the onion shipment from pakistan has gotten rotten at mumbai dock and pakistan has banned export to india.

pranab stmt is just for the sake of it. he was at some corporate excellence awards event yesterday. may have made the stmt there. ek award function tha, kuch bolna tha, bol diya. jairam ramesh too made a intellectual stmt that malls are energy guzzlers and give a complex to poor people etc.
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Old January 9th, 2011, 06:13 AM
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Re: Govt steps pulled down onion prices by Rs10-15 a kg: Pranab Mukherjee

Quote:
Originally Posted by jeetiaf View Post
yesterday at shanibaazar(saturday market) in jalandhar it was Rs 55/kg

jeetIAF
at mangalbazar they were 60.
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Old January 9th, 2011, 08:46 AM
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Re: Govt steps pulled down onion prices by Rs10-15 a kg: Pranab Mukherjee

what happened at my place in india.. the Government of so called masiha (Namard Modi ) of Gujaraties has removed hundreds of poor Road side Sabji Vendors..therefore veg price have been almost doubled or 3 times a month ago onions price was 32 now 62

modi suxx
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Old January 9th, 2011, 09:12 AM
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Re: Govt steps pulled down onion prices by Rs10-15 a kg: Pranab Mukherjee

Modi what have you done
Vegetable prices are up thurout India because Modi removed hundreds of poor road side Sabji Vendors in Gujarat and we were thinking it was due to congress and its ally
Quote:
Originally Posted by marvelous View Post
what happened at my place in india.. the Government of so called masiha (Namard Modi ) of Gujaraties has removed hundreds of poor Road side Sabji Vendors..therefore veg price have been almost doubled or 3 times a month ago onions price was 32 now 62

modi suxx
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Old January 9th, 2011, 09:31 AM
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Re: Govt steps pulled down onion prices by Rs10-15 a kg: Pranab Mukherjee

Quote:
Originally Posted by PeaceSeeker View Post
at mangalbazar they were 60.
mangalbazar of which city, hope you are talking about delhi, actually azadpur mandi's prices will be much lower but intermediaries increase it to twice of base price

Quote:
Originally Posted by marvelous View Post
what happened at my place in india.. the Government of so called masiha (Namard Modi ) of Gujaraties has removed hundreds of poor Road side Sabji Vendors..therefore veg price have been almost doubled or 3 times a month ago onions price was 32 now 62

modi suxx
Congress recently changed base year of measurement of consumer price index from 93-94 to 2003-04. that is why this weeks inflation is just 18% if you measure it base year of 93-94 it would be around 30%, the growth rate of country is 8.5% and is likely to increase 9% next year but rising inflation neutralizes buying power of household that has increased due to robust growth of GDP


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Old January 9th, 2011, 09:57 AM
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Re: Govt steps pulled down onion prices by Rs10-15 a kg: Pranab Mukherjee

I think it is Pranab Mukherjee who is on crack. Some months ago he claimed that inflation will be in control by December. Good monsoon, they said.. the prices will come down and there will be a boom in economy. Now unseasonal rains, which have been happening every year since last about 15 years, are blamed. Pranabbhai conveniently forgot that in Asansol region, they have 2-3 crops of onion a year.

And why has the price of onions resulted in other stuff costing more? 18% inflation in primary food articles is the official figure for the week ended 25 Dec.

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Old January 9th, 2011, 10:46 AM
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Re: Govt steps pulled down onion prices by Rs10-15 a kg: Pranab Mukherjee

Cha how to edit the thread name ?

You forgot to add "Congress at work" let me correct it for you
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Old January 9th, 2011, 11:53 PM
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Re: Govt steps pulled down onion prices by Rs10-15 a kg: Pranab Mukherjee

Quote:
Originally Posted by marvelous View Post
what happened at my place in india.. the Government of so called masiha (Namard Modi ) of Gujaraties has removed hundreds of poor Road side Sabji Vendors..therefore veg price have been almost doubled or 3 times a month ago onions price was 32 now 62

modi suxx
When/Where?
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Old January 10th, 2011, 05:34 AM
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Re: Govt steps pulled down onion prices by Rs10-15 a kg: Pranab Mukherjee

Quote:
Originally Posted by marvelous View Post
what happened at my place in india.. the Government of so called masiha (Namard Modi ) of Gujaraties has removed hundreds of poor Road side Sabji Vendors..therefore veg price have been almost doubled or 3 times a month ago onions price was 32 now 62

modi suxx
marvi, you come with randheer on 26th jan. dono ko medal - in praise of your extra-ordinary intellect and talent. vah kya explanation hai vah!
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