New Delhi:
Besieged by a growing storm over skyrocketing prices of food, the government's crack team is finally meeting on Wednesday morning.
It was to have met on Tuesday morning, but the meeting got postponed twice within the space of a day.
The Cabinet Committee on Prices is meeting at 10 am and the panel is likely to approve corrective measures to contain the price rise. Food inflation is currently between 18 to 20 per cent. It is, in fact, at an 11-year high.
Politics over prices has begun with the BJP questioning the Prime Minister's economic skills in controlling food prices. The party is planning a nationwide protest over the issue on Monday, January 18.
Agriculture Minister Sharad Pawar is also facing criticism from the Opposition for being unable to check spiralling food prices.
While the BJP has asked Pawar to check prices or quit, he insists he is focused on controlling prices and blames the Uttar Pradesh government for rise in the price of sugar.
The price of sugar has gone through the roof. It's the costliest in the last 29 years.
Sugar production is only 15.3 mn tonnes while the consumption outbeats production at 23 mn tonnes.
But according to Uttar Pradesh Chief Minister Mayawati, the inflation is due to the Centre's "wrong" economic policies.
Meanwhile, speaking to NDTV, the Chief Economic Advisor to the Finance Minister Kaushik Basu has said he doesn't believe farmers are benefiting from inflation.
(Watch: Kaushik Basu on inflation)