As the Opposition geared up to move a an adjournment motion on the issue of price rise, Finance Minister Pranab Mukherjee admitted that more needs to be done to get desired outcomes on inflation control, hoping it will come down to 6-7 per cent by March end.
”...while there has been a steady improvement in the inflation situation in India, there are important tasks ahead to be undertaken to get the desired outcomes,” Mr. Mukherjee said in a suo-motu statement on inflation in the Lok Sabha.
He attributed the rising prices to demand-supply mismatch, depreciating rupee, global commodity prices and easy monetary policy followed by some countries.
”...the government is committed to bring down inflation to more acceptable levels. I hope to see the March end inflation between 6 to 7 per cent”, he said and sought suggestions from the members on how to tackle the issue.
Inflation has remained over 9 per cent since December 2010. The headline inflation measured on WPI was 9.7 per cent in October, while the rate of price in food segment for the week ended November 5 was 10.6 per cent.
Mr. Mukherjee’s statement was laid in the Lok Sabha amid turmoil over a variety of issues including price rise. The Left parties had announced that they will move an adjournment motion in the House today and the BJP-led NDA had promised support to it, much to discomfiture of the government.
