Lok Sabha Question No. 4743 (UNSTARRED), answered on 2021-03-24
Subject: Prices of Consumer Items
Ministry: COMMERCE AND INDUSTRY
Asked by: Jyotsna Charandas Mahant

## GOVERNMENT OF INDIA MINISTRY OF COMMERCE & INDUSTRY

## DEPARTMENT FOR PROMOTION OF INDUSTRY AND INTERNAL TRADE

## LOK SABHA

UNSTARRED QUESTION NO. 4743. TO BE ANSWERED ON WEDNESDAY, THE 24 TH  MARCH, 2021.

## PRICES OF CONSUMER ITEMS

## 4743.  SHRIMATI JYOTSNA CHARANDAS MAHANT:

be pleased to state:

Will the Minister of COMMERCE AND INDUSTRY वाणिज्य  एवं उद्योग मंत्री

- (a) whether major companies have excessively increased the prices of consumer items recently as per a news item published in Hindustan Times newspaper on 08/03/2021;
- (b) if so, the reasons therefor;
- (c) the names of the companies which have increased the prices; and
- (d) the steps taken to check the said price rise?

## ANSWER

## वाणिज्य  एवं उद्योग मंत्रालय में राज्य मंत्री (श्री सोम प्रकाश) THE MINISTER OF STATE IN THE MINISTRY OF COMMERCE & INDUSTRY (SHRI SOM PARKASH)

- (a): The news item published in Hindustan Times newspaper on 08/03/2021 is titled 'Biz confidence at India Inc soars to 10 year high'. A copy of article  is enclosed at Annexure. The article states that based on  a  business  survey,  domestic  firms  are  optimistic  about  greater pricing power that would drive their profits over the next two quarters with better hiring prospects. The article says that Business Confidence Index  is  currently  highest  in  a  decade.  There  is  no  reference  to increase of prices of consumer items in the news item.

- (b) to (d): Do not  arise.

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## ANNEXURE

## ANNEXURE  REFERRED  TO  IN  REPLY  TO  PART  (a)  OF  THE  LOK  SABHA UNSTARRED QUESTION NO. 4743  FOR ANSWER ON 24.03.2021.

## BIZ confidence at India Inc soars to 10- year high

Rajeev Jayaswal Letters@hindustantimes.com Hindustan Times, Delhi Monday, 08 th March,2021; Page-13

New  Delhi: Domestic  firms  are  optimistic  about  greater  pricing  power  that  would drive their profits over the next two quarters with better hiring prospects, though fears of  a  fresh  wave  of  Covid  inflections,  lack  of  affordable  credit  and  rising  costs  are some of the key concerns, a business confidence survey revealed.

Overall, the Business Confidence Index witnessed further improvement at 74.2 in Q3 of  the  current  financial  year,  the  highest  in  a  decade,  the  Federation  of  Indian Chambers  of  Commerce  and  Industry  (Ficci)  said  in  its  latest  round  of  survey involving 190 companies from various sectors. The survey captures the mood of the industry for the two quarters ending June 30, 2021.

'For the past few months, green shoots of recovery have been strengthening. The pick-up in activity has broadened and the same is being reflected in the various lead indicators. The demand conditions, which have been a major cause of concern for a majority  of  businesses,  are  also  seen  improving,'  it  said.  Respondents  have  been unanimous that the Centre's capital expenditure push in the Union budget 2021-22 would  lead  to  faster  revival  in  growth.  Finance  minister  Nirmala  Sitharaman  on February 1 raised the capital expenditure budget by 34.5% to 5.54 lakh crore(INR) in 2021-22.

The survey has been conducted against the backdrop of the economy coming out of recession  in  Q3  with  0.4%  growth,  after  remaining  in  contraction  mode  for  two consecutive quarters.

India Inc, however, remains cautious. The uncertainty surrounding a fresh surge in Covid  cases  remains  the  topmost  concern  for  the  corporate  India,  the  survey showed.  'A  further  acceleration  in  the  pace  of  vaccination  should  help  maintain stability in recovery,' it added.

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