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Govt unhappy with inflation, can take more steps: Montek

Govt unhappy with inflation, can take more steps: Montek
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First Published: Tue, May 06 2008. 01 13 PM IST
Updated: Tue, May 06 2008. 01 13 PM IST
PTI
New Delhi: The government can consider some more measures to contain inflation if prices do not soften going ahead, Planning Commission Deputy Chairman Montek Singh Ahluwalia said on 6 May.
“We are not at all happy with the rate of inflation. It should come down. Government can take more measures if needed,” he said at an event organized by Microsoft India.
Inflation touched a 42-month high of 7.57% for the week ended 19 April as compared to 7.33% in the previous week.
“We should give priority in bringing down inflationary expectations, he said.
Belying expectations that steps taken to contain inflation would impact growth, Ahluwalia said the country is likely to record a growth of 8% during the current fiscal.
According to the RBI annual credit policy, Indian economy would grow between 8-8.5% during the current year.
During 2007-08, the economy expanded by 8.7%.
When asked whether futures trading of food grains be banned to bring down inflation pressure, he said the expert committee has said that futures trading does not increase inflation, he said.
Speaking about the rising steel prices, Ahluwalia said “We are yet to see the reduction of duties in the market.”
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First Published: Tue, May 06 2008. 01 13 PM IST