Crucial meeting on inflation today; government may remove agri cess, discuss ways to bring down cement prices

Amid rising inflation, the government will hold a crucial meeting to discuss ways to arrest spiralling prices of commodities. The meeting, which is scheduled to be held at 5.30 PM on Thursday, will be conducted under the leadership of cabinet secretary Rajiv Gauba.  

The government is mulling to remove agri cess for some time on many products. While it is also considering taking measures on Supply-Side Management. Similarly, the Petroleum Secretary is likely to give a report on gas and ethanol. The government might also ponder ways to reduce cement prices.  

The Cabinet Secretary had appranetly sought a report from the ministries concerned and a list of items from the Ministry of Commerce on which export duty needs to be reduced, reported Zee Business Correspondent Ambarish Pandey. 

The meeting would review all commodities related to PDS. Rice, pulses and gram are 

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Commerce & Industry, Petroleum and Agriculture secretaries are expected to present the list of commodities that require revision in duties. 

“A big meeting is called on Thursday to discuss inflation. The meeting will be held under the chairmanship of Cabinet Secretary, besides, DFPD, Commerce & Industry, Consumer Affairs, Petroleum, and Agriculture secretaries will also be present for the meeting as well as the Finance Ministry officials,”  said Pandey. 

The agenda of the meeting is mainly brainstorming on options to control inflation, as the government aims to reduce inflation by 70-80 basis points, the Zee Business report said.    

It is learnt that the government might curb exports on many commodities in order to tame inflation 

The Cabinet Secretary had sought a report from the concerned ministries and also sought a list of items from the Ministry of Commerce on which export duty needs to be reduced, Pandey said in his report.