FM hits out at BJP; says more will be done to curb inflation

FM hits out at BJP; says more will be done to curb inflation
PTI
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First Published: Fri, Jun 06 2008. 04 18 PM IST
Updated: Fri, Jun 06 2008. 04 18 PM IST
New Delhi: Finance minister P Chidambaram today hit out at the BJP, saying it had no suggestions to offer for moderating inflation, and at the same time, hinted that the government may take more measures to curb rising prices.
“I regret to point out that the (BJP’s) resolution is an exercise in self-deception and is aimed at spreading disinformation,” he said in a statement referring to the resolution adopted by the opposition party’s National Executive that sought the UPA government’s resignation.
As inflation for the week ended 24 May rose to 8.24%, he admitted that “we have not overcome all our problems ... we admit inflation is a problem...”. He added that the government was yet to hear any “concrete suggestions” from the BJP-NDA to moderate the rate of price rise.
“We are willing to take more measures (to check inflation),” Chidambaram said, adding “the UPA government is confident that it will, with the understanding and support of the people, overcome the current difficulties.”
The BJP had described UPA Government’s decision to hike fuel prices as an “economic terror” unleashed on the people.
Chidambaram said the UPA government did not enjoy benign global crude oil prices, as did the NDA regime.
Giving out inflation figures under the NDA regime, he said, “In 2000-01, in 48 out of 52 weeks the WPI was over 6%; in 22 of those weeks it was over 7%; and in 12 of those weeks, it was over 8%. These are facts that cannot be wished away”.
Countering the claims made by the BJP that it inherited a bankrupt economy and left behind a strong economy, Chidambaram said the NDA government did not have the vision or the compassion, or the fiscal space or the financial resources, to undertake schemes and programmes to directly benefit the poor and make growth inclusive.
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First Published: Fri, Jun 06 2008. 04 18 PM IST