The Hindu : Front Page : Left has no suggestion to check inflation, says Sibal

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Sunday, Apr 13, 2008
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Left has no suggestion to check inflation, says Sibal

Special Correspondent

Rise in prices in international market a factor

UPA policies have nothing to do with it
Government willing to adopt more measures

BANGALORE: Union Minister for Science and Technology Kapil Sibal on Saturday said the Left parties had not given any suggestion to the United Progressive Government on containing inflation.

Addressing presspersons at the Congress Bhavan here, Mr. Sibal said “the Left parties have no real suggestion on containing prices of commodities.” Communist Party of India (Marxist) Polit Bureau member Sitaram Yechury has only given a suggestion to ban future trading in commodities. Rise in prices in the international market is behind the soaring inflation, he said.

The Left parties and the United National Progressive Alliance (UNPA) have decided to launch a week-long joint nationwide protest against the “relentless price rise” from April 16.

Mr. Sibal said the UPA government was not responsible for increase in the prices of foodgrains, vegetables, edible oil, cement and steel and crude oil. “The UPA policies have nothing to do with the rising prices in the country. The government has taken all steps to contain inflation and is willing to adopt more measures.”

Inflation touched a 40-month high of 7.41 per cent on Friday as vegetables, fruits, pulses and metals became dearer.

On the Left parties’ protest against inflation, he said, “they have different economic and ideological positions.” But the Left parties have not come out with concrete suggestion to deal with inflation, the Minister said.

In an attempt to rein in inflation, the Centre has reduced the customs duty on several crude edible oils to zero and has fixed the customs duty for refined edible oils at 7.5 per cent. It has banned the export of non-basmati rice with immediate effect and set the minimum export price of basmati rice at $ 1200 a tonne. The ban on export of all pulses has been extended for a year from April 1. It has also banned export of cement.

Mr. Sibal hit out at the BJP for politicising the issue of inflation and said inflation had reached 8.5 per cent in December 2001 when the National Democratic Alliance government was in power.

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