Business Daily from THE HINDU group of publications
Saturday, Mar 29, 2008
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Saturday, Mar 29, 2008 ePaper | Mobile/PDA Version |
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Economy Industry & Economy - Economy Govt will weigh lower growth to contain inflation: Chidambaram Our Bureau Mumbai, March 28 Expressing concern over high rate of inflation, the Union Finance Minister, Mr P. Chidambaram, said here today that the Government will soon decide whether it should sacrifice a bit of growth to contain inflation. Eight per cent economic growth and four per cent inflation would be the ideal balance. Speaking at the valedictory function of the Indian Merchants Chamber’s centenary celebration, Mr Chidambaram said “fiscal measures to contain inflation have been taken in the Budget, monetary steps will be taken by the Reserve Bank of India and on the supply side the Agriculture Ministry has an important role to play.” Though the Government is willing to import wheat, rice or edible oil to contain the price rise, they are not available in the global market. Every other country has banned export of agriculture commodities. “In the entire GDP pie, agriculture is the only sector which is lagging. Today, if you ask 10 farmers on whether they want to continue farming, nine would say no and one might say may be if there is no option.” More Stories on : Economy | Economy
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