The Hindu Business Line : `All steps taken for moderating inflation'

TASTY BITE: Mr P. Chidambaram, Finance Minister, tasting a ragi product, as Mr M.B.N. Rao, Chairman and Managing Director, Canara Bank, looks on at a Conclave of Self-Help Groups at Honnenahalli near Bangalore on Sunday. — G R N Somashekar

Bangalore April 15 The Union Finance Minister, Mr P. Chidambaram, said on Sunday that the rupee was still competitive and that the Government was taking steps to "moderate'' inflation.

Talking to presspersons after attending a conclave of self-help groups organised by Canara Bank near Bangalore, Mr Chidambaram said the immediate goal of the Government was to moderate inflation to about 5 per cent. "The immediate goal of the Government is to moderate inflation to about 5 per cent or so," he said.

He, however, declined to set any timeframe on this issue. He said bank interest rates had been hiked to moderate inflation.

"Every step has been taken to moderate inflation," Mr Chidambaram said.

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