"Prices will definitely stabilise. Finance Minister Arun Jaitley is working on it. The Prime Minister has also convened a special cabinet meeting on it. Price rise will be arrested very soon," said Vijay.
Costlier potato and cereals pushed up May inflation to five-month high level of 6.01 per cent, prompting the Centre to ask the states to take effective steps against speculative hoarding in the wake of weak monsoon fears.
Vijay said a land acquisition policy was being considered, which would help farmers.
"We are considering a land acquisition policy which will help the farmers. Good and arable land will not be acquired. We are considering every single point, but nothing has been decided yet," he said.