Amritsar Dec. 17 : Admitting price rise in India has led to problems for the common man across the country, Montek Singh Ahluwalia, Deputy Chairman of Planning Commission of India, has expressed the hope that there would be relief to the people by next month.

Ahluwalia visited Amritsar to inaugurate the three-day 69th Annual Conference of the Indian Society of Agricultural Economics at Guru Nanak Dev University on Thursday where he talked in detail about the 11th agricultural policy during his address.

Over 200 renowned agricultural economists and policy makers, including delegates from agricultural universities, agricultural departments of State Governments, officials from Union Ministry of Agriculture, members of Agricultural Price Commission, former Vice-Chancellors and directors of various institutions are expected to participate in the conference.

Ahluwalia told media that food prices were likely to come down by next month since the government was improving the supply management system. He claimed that the wholesales prices were not going high like being witnessed in retail market. Rather inefficiency was noticed in the retails market. He, however, said that the government was making the right efforts to check price rise.

On the issue of subsidy Ahluwaia said: "Neither we discontinue the subsidy nor we cut it down due to political compulsions."

He said if the resources are diverted from granting subsidy to investment, the agriculture sector would get more benefits.

Ahluwalia informed that a substantial amount had been given in the form of subsidy in fertilizer and power sector and said that for a better irrigation system it's needed to improve water management by putting more investment in water management.

Dr. R.S. Bawa, an eminent economist and the Local Organizing Secretary of the conference, in the conference said this three-day national conference is hosted by the University under the auspices of its Punjab School of Economics in the Guru Nanak Bhawan Auditorium of the University here to promote wider understanding of the economic problems being faced by our rural society, in particular, and the country, in general, among the economists and policy-makers. By Ravinder Singh Robin