Industry & Economy
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Economy
Govt can take more measures to tame inflation: Montek
Our Bureau
New Delhi, May 6 The country’s headline inflation is expected to moderate in the coming weeks and the Government can take more measures if prices are not contained, according to the Deputy Chairman of the Planning Commission, Mr Montek Singh Ahluwalia.
“We are not at all happy with the rate of inflation. It should come down. I do hope in the next few weeks, inflation will moderate. The Government can take more measures if needed. We should give priority to bringing down inflationary expectations,” Mr Ahluwalia told reporters on the sidelines of an industry event here today.
Inflation touched a 42-month high of 7.57 per cent for the week ended April 19 compared with 7.33 per cent in the previous week.
Mr Ahluwalia also said that he expects the Indian economy to record a growth of 8 per cent during 2008-09.
“My projection was 8-8.5 per cent, I will be happy at the lower end. A growth of around 8 per cent is quite acceptable,” he said.
The RBI has pegged the GDP growth for 2008-09 at 8-8.5 per cent. Indian economy is estimated to have grown at 8.7 per cent. The Finance Minister, Mr P. Chidambaram, expects the Indian economy to grow more than 8 per cent in the current fiscal.
Meanwhile, the National Council for Applied Economic Research (NCAER), an economic think-tank, has said that the Indian economy will grow by 8.5-8.8 per cent in 2008-09.
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Chidambaram unveils fiscal measures to tame steel, food prices
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