Janata Dal-United holds price rise protest outside Parliament

New Delhi, Dec 8: The chief of Janata Dal-United (JDU) party, Sharad Yadav, led a demonstration outside Parliament in protest of food inflation and the rising cost of fertiliser.

The protest, is the latest in an opposition drive against the Congress-led government’s inability to tackle spiraling price rises.

Speaking to journalists after the rally, Yadav explained how the poor economic situation was affecting farmers.

“The government is claiming that inflation has come down, it is not true. The prices of farm produce like potatoes and other grains including paddy are so high that demand has reduced across parts of the country. As a result, the purchase of all these products has also come down,” said Yadav.

Yadav, who is also the convener of the BJP-led National Democratic Alliance (NDA), added that the price of fertiliser had also risen sharply.

“The fertilisers, DAP (diammonium phosphate) are available at very high prices in the market as the government had increased its cost and reduced its supply. The NDA lawmakers are also opposing the government’s move. At present, the prices of paddy are high and people are buying it at Rs 500 or Rs 400 and even Rs 600 and the DAP and urea is being sold in the black market. Because of this transgression in prices, the country is suffering from inflation,” added Yadav.

India’s annual food inflation eased to 6.60 percent, its lowest in nearly three-and-a-half years to November 26. The rate is down from 8 percent in the previous week.

Analysts attribute the drop to seasonal advantages.

Annual fuel inflation remained unchanged at 15.53 percent while headline inflation stayed above 9 percent for the 11th month in October, despite 13 rate increases by the central bank since March 2010. (ANI)