Price rise: Pranab Mukherjee defends government, Opposition stages a walk out in Rajya Sabha

NEW DELHI: A visibly emotional FM Pranab Mukherjee on Thursday strongly refuted Opposition charge that the government had not done enough to check inflation, saying prices of many essential commodities had turned cheaper or rose marginally in the last two years. He also made a strong plea to the Opposition to support reforms, a day after it had to roll back its decision to allow foreign multi-brand retailers to set up shop in India.

FM's reply in the Upper House could not have come on a better day as official data showed that food inflation had witnessed its sharpest moderation and plunged to a 39-month low of 6.6% for the week ended November 26.

"If the government had not done anything, prices would not have come down. Prices do not remain static," Mukherjee said.

But, the Opposition members were not satisfied with FM's reply and staged a walk out from the Rajya Sabha.

"We tried our best to have a constructive debate. You are in power for six years and this is the 7th year ... no structural changes could take place...so we are walking out from the House," BJP leader M Venkaiah Naidu said.

Mukherjee, who had announced the rollback of policy on allowing FDI in multi-brand retail, touted as pro-farmer, said there was a huge price difference in farm gate and retail prices.

"... 66% value is added by intermediaries while only 34% reaches farmers," he said seeking cooperation from all stakeholders to stem the menace of price rise.

"When we say that it is the collective responsibility and for that collective responsibility we shall have to work with each other," he said, adding that inflation had remained high even during the NDA regime.

Seeking Opposition's support to carry forward the reform agenda, he said, "In 2004, you were in the government... you knew what kind of policy measures are to be taken... Many of the measures which you initiated, including PFRDA, we adopted. My only request would be that the baby which you gave birth, do not leave it in bath water, let me carry it on to maturity because reforms are a continuing one," he said.