Business Daily from THE HINDU group of publications
Saturday, Aug 25, 2007
ePaper
Business Daily from THE HINDU group of publications Saturday, Aug 25, 2007 ePaper |
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Industry & Economy
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Economy Chidambaram assures steps to curb inflation
Our Bureau New Delhi, Aug. 24 The Union Finance Minister, Mr P. Chidambaram, on Friday assured the Rajya Sabha that he would not hesitate to take further fiscal and monetary steps to control inflation. The latest official data released by the Government on Friday showed that the wholesale price index (WPI)-based inflation has increased to 4.10 per cent for the week ended August 11 compared with rise of 4.05 per cent for the previous week. Replying to a discussion on the Appropriation Bill 2007, in the Rajya Sabha , Mr Chidambaram said that the prices of essential commodities and food items have gone up due to stagnation in production and the demand-supply mismatch. The Upper House later returned the Bill. Revenue deficit
On fiscal prudence, Mr Chidambaram said that he was confident of wiping out revenue deficit by 2008-09. He said that efforts would be taken to bring the revenue deficit to zero this year itself. Meanwhile, Mr Chidambaram also said that there was no proposal with the Government to change the age limit of senior citizens for income-tax assessment purposes.
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