Government making efforts to check price rise: Montek Singh

April 2nd, 2008 - 3:17 pm ICT by admin  

New Delhi, April 2 (IANS) Planning Commission Deputy Chairman Montek Singh Ahluwalia Wednesday said the Indian government was making the right efforts to check price rise. Speaking to reporters at the Planning Commission, Ahluwalia said inflation was a global phenomenon.

“It is not only India that is facing the problem of inflation. There is a global surge in inflation. The government is handling it in a right manner and will be able to contain it,” he said.

“Look at the level of inflation in China. It is even worse than in India. The inflation has reached 9.1 percent in China. Therefore, inflation needs to be looked at in a global perspective. It is a matter of continuous monitoring and the finance ministry has been doing it.”

Ahluwalia Tuesday justified the government’s decision to cut import duty on edible oils and other commodities to check price rise, saying he was confident the move would yield positive results soon.

Commenting on the cabinet decision to cut import duty on edible oils and ban export of non-Basmati rice among other things, he had said: “It was the right thing to do and will have a positive impact on the situation”.

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