The Hindu : National : Inflation will be down within six weeks: Sibal

Online edition of India's National Newspaper
Friday, May 09, 2008
ePaper | Mobile/PDA Version

National

National

Inflation will be down within six weeks: Sibal

Special Correspondent

NEW DELHI: Even as its major opponent parties got aggressive on price rise, the Congress on Wednesday asserted that inflation would be curbed within six weeks.

Citing the record foodgrains production at 227.32 million tonnes and impressive wheat procurement so far at 174.46 lakh tonnes, Congress Convener of the Media Committee Kapil Sibal said if the States did not allow hoarding to take place and improved the delivery system, then inflation could be tamed. Claiming that the policies of the United Progressive Alliance government were succeeding, he attacked the Bhartiya Janata Party for making the current price rise an “electoral opportunity” in the face of Assembly polls in Karnataka. “As per the consumer price index for agricultural and rural labourers, about 13 States have recorded a low to moderate inflation rate of 3 to 6 per cent in March itself, which included the BJP-ruled States of Madhya Pradesh and Rajasthan.”

Criticising the National Democratic Alliance for raising a hue and cry on the issue of inflation, Mr. Sibal said during the NDA rule, the inflation rate hovered between 6 and over 8 per cent in 2000-01, the main contributor being fuel and power. Moreover, the global prices of foodgrains were stable during the period and the prices of crude oil were around $37 a barrel against a historic peak of $110 a barrel on March 12, 2008.

Printer friendly page
Send this article to Friends by E-Mail

National