The Hindu : New Delhi News : Cement makers acting like cartels: Chidambaram

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Cement makers acting like cartels: Chidambaram

Special Correspondent

Inflation control is high on government agenda: Minister
“No difference of opinion with other Ministries”

NEW DELHI: Union Finance Minister P. Chidambaram on Tuesday informed the Rajya Sabha that the government was exploring legal and administrative measures to deal with the cement and steel manufacturers who were acting like cartels.

Manufacturers

“It is my view that cement manufacturers and to some extent steel producers are behaving like a cartel,” he said replying to supplementaries during question hour.

“The MRTPCis conducting an inquiry into the allegations of cartelisation. We are looking at legal and administrative provisions that are available to the government,” he informed the House.

The weekly inflation rate of Wholesale Price Index stood at 6.7 per cent as on March 15, 2008 and reached 7.40 per cent on March 29.

However, it came down to 7.14 per cent as on April 5. “Containing inflation remains high on the agenda of the government. Whenever required, necessary measures will be taken. We have taken a set of fiscal measures and some more fiscal measures are being contemplated,” he said.

Stressing that there was no quick fix solution to tackle inflation, Mr. Chidambaram said it would take some time for the fiscal and monetary measures to take effect.

Differences

Asked about the reported differences between the Ministry of Finance and other Ministries including Commerce and Industry, he said: “There is no difference of opinion. When Ministers meet, we exchange views on issues.”

Anti-inflationary policies

The Finance Minister told the House that anti-inflationary policies of the government included strict fiscal discipline, rationalisation of duties of essential items, effective supply-demand management of essential commodities through liberal tariff and trade policies and procurement through public sector agencies.

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