Govt will "overcome" difficulties to tame inflation: PM
The Reserve Bank of India has been following tight monetary policy to anchor inflationary expectations.
New Delhi: Admitting challenges in taming
inflation which remains above the comfort level of 4-5 per
cent, Prime Minister Manmohan Singh said Tuesday it is making
serious efforts to contain price rise.
"Our government is making serious efforts to moderate
inflation rates," Singh said at the Indian Labour conference
He said there are difficulties to check the price rise
but the government "shall overcome" them.
Though the food and general inflation rates have been
declining for the past few weeks, they remain quite
high, giving hardship to the common man.
Despite some moderation, food inflation is still in
double digits with the index hovering at 10.30 per cent for
the week ended November 6.
The general rate of price rise, covering almost all the
commodities, was 8.58 per cent in October.
The Reserve Bank of India has been following tight
monetary policy to anchor inflationary expectations.
However, as Finance Minister Pranab Mukherjee said
recently the pressure on prices is also coming from supply
According to experts, agricultural and manufactured items
output has not been keeping pace with demand, leading to
higher prices of food items and commodities.