Chairperson of the Economic Advisory Council to the Prime Minister, C Rangarajan has shared his views on food price escalation. He believes that releasing more food-stocks through public distribution system (PDS) will restrict the wild price rise of food items in India.

At a conference in Kolkata, he has revealed that the government should emphasize on releasing more food stocks through PDS to its consumers. It can also use effective channels like co-operative societies by providing them food-stocks.

These co-operative societies can play a major role in distribution, as per Rangarajan. It is sp because they exist at the root level and can manage all segments of consumers properly by offering the lower than market prices.

Such initiatives can help the government to bring the price under control. Currently, the PDS is having a stock of 25.66 million tons of rice and 16.8 million tons of wheat.

Moreover, he has anticipated that India will have a good Rabi crop this year. This could definitely pull the food prices down by the second half of 2010-11.