However, the progress of monsoon will be reviewed at a meeting between the Union Food Minister and the States on Friday.
The Cabinet met yesterday to discuss the rising prices, delay in monsoon, leading to increase in vegetables and dairy products.
To curb the hoarding of onions and potatoes, wholesellers have been directed to stock according to a cap decided by the government. The cap would help cut down on the price rise.
Govt to cap onion stocks by wholesellers to curb hoarding
Telecommunications and Information Technology minister Ravi Shankar Prasad said,"We think there are enough potatoes and onions in the country and there's no need to panic."
On Wednesday, the government increased the minimum export price for onions by 67% to augment the domestic supply and keep prices under control.
Shailesh Nayak, a top IAS officer in the Earth Sciences Ministry said that monsoon rains ahve revived in the central and the northern parts of the country, which are the soybean and the sugercane cultivation belt. However, the country is still expected to have below-average monsoon this year. Reports suggest that the rainfall in July and August will be far better than June.