Inflation will come down to 7 percent by March: PM (Lead)

February 24th, 2011 - 4:59 pm ICT by IANS  

Manmohan Singh New Delhi, Feb 24 (IANS) Prime Minister Manmohan Singh Thursday admitted that high inflation was a “problem” and said he hoped that it will come down to seven percent by March.”Inflation in the last 18 months has become a problem. We stand committed to control inflation,” Manmohan Singh told the Lok Sabha, replying to a debate on the motion of thanks on the president’s address.

“By the end of this fiscal year (March), I hope the inflation will come down to seven percent…I expect the food inflation to go down as well…I expect the situation to improve,” the prime minister said.

He said the government was committed to bringing a food security bill to parliament soon that would help in controlling the rising prices.

“There are commodities that we can control the prices of, like cereals. We have been able to stabilise the prices of cereals and grains. We can control inflation but in a manner that we do not adversely affect the growth process. Inflation can be controlled by increasing agricultural production and investing in agriculture,” he said.

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