Tough measures to be taken against black marketing: Mukherjee

New Delhi: The new government, headed by Narendra Modi, will accord topmost priority to containing food inflation and take tough measures against hoarding and black  marketing, President Pranab Mukherjee.

"Containing food inflation will be the topmost priority  for my government. There would be an emphasis on improving the supply side of various agro and agro-based products. My government will take effective steps to prevent hoarding and  black marketing," Mukherjee said in his address to the first  joint sitting of Parliament after the general elections.

Outlining the policies of the BJP-led NDA government, Mukherjee said efforts will be made to reform the Public Distribution System (PDS) by incorporating best practices from  the states.  On the possibility of deficient rains, he said that "my government is alert about the possibility of a subnormal  monsoon this year and contingency plans are being prepared". 

The retail inflation accelerated to a three-month high of  8.59 per cent in April mainly due to increasing prices of  vegetables, fruits and milk. "Inflation continues to be at an unacceptable level," he said, adding that "we will work together to usher our economy  into a high growth path, rein in inflation, reignite the  investment cycle".  On Saturday, top bureaucrats, headed by Cabinet Secretary  Ajit Seth, had reviewed the prevailing price situation in the  country and preparedness to deal with the impact of delayed  monsoon on inflation. 

Fighting inflation is on the top of the agenda of the  new government. In its election manifesto, the BJP had said  that the immediate task of its government would be to rein in  price rise.  The steps listed in the manifesto to contain inflation  include a price stabilisation fund, setting up of special  courts to deal with hoarding and black marketing, unbundling  of the Food Corporation of India and establishment of national  agriculture market.