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Steps to lower milk prices?

Special Correspondent

NEW DELHI: Finance Minister P. Chidambaram on Friday hinted that the Government might consider measures for lowering the prices of milk, oilseeds and fertilizers as part of the ongoing exercise to rein in the rate of inflation that was still above the "comfort levels" of 5.0-5.5 per cent set for the current fiscal.

Speaking to newspersons after his post-budget meeting with the central board of the Reserve Bank of India (RBI), Mr. Chidambaram said: "In [my] budget speech, I have given emphasis on cereal and pulses...many members [of the central board of RBI] said in addition we must pay special attention to edible oilseeds and fertilizers... the point is well taken."

Members of the RBI board, he said, hailed the budget focus on irrigation and education. He also conveyed to them what Prime Minister Manmohan Singh told Parliament on Thursday — that the goal is to moderate inflation without affecting growth. "But it is important to moderate inflation," he said.

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