The rising inflation is not due to domestic reasons but the worldwide inflation caused by complete collapse of the "bread basket" in Ukraine and oil prices touching $123 per barrel, he told reporters.
"The price rise is a temporary phenomenon and will stabilise soon", Scindia said. The government is also contemplating banning forward trading and taking stern action against hoarders, he said. There is a "dire shortage" of food commodities and the government is planning to increase food production from 215 MT to 235 MT, Scindia said.
On the Karnataka political scenario, Scindia said there was a dearth of stable governments in Karnataka and only Congress could provide a stable government.
