Inter-ministerial group discusses inflation
September 2nd, 2011 - 9:44 pm ICT by IANS
New Delhi, Sep 2 (IANS) An inter-ministerial group headed by the finance minister’s chief economic advisor Kaushik Basu held its meeting Friday to review the situation of inflation, which remains stubbornly high despite aggressive monetary tightening by the Reserve Bank of India.
Addressing the meeting, Planning Commission Deputy Chairman Montek Singh Ahluwalia emphasised the need to curb subsidies to address the fiscal issues on a sustained basis.
Friday’s meeting, which is the fifth of the group, concentrated on macroeconomic demand management with focus on fiscal and monetary policy issues, according to an official statement.
The meeting assumes significance in view of the recent rise in the inflationary pressure, especially surge in the prices of food products.
According to the latest data released Thursday, food inflation soared 10.05 percent for the week ended Aug 20, the highest level in over five months.
The inter-ministerial group, which was set up in February on the direction of Prime Minister Manmohan Singh, has been entrusted to suggest measures to bring down inflation to a comfortable level.
The group has been entrusted with the task of studying and proposing policies pertaining to food article inflation and macro-economic demand management.
- Need to review wholesale, retail price monitoring system: Pranab - Feb 15, 2011
- India's central bank set to present monetary policy - May 03, 2011
- FDI in multi-brand retail will help curb inflation: Basu - May 27, 2011
- Inflation will slow by March, says Pranab; opposition flays claim (Roundup) - Nov 22, 2011
- No direct link between rate hike and inflation: Pranab - Nov 29, 2011
- RBI hints at rate hike, growth below 9 percent - May 02, 2011
- Montek hopes headline inflation will decline by September - Jun 10, 2011
- Government banks on monsoon, rate hikes to tame inflation - Aug 16, 2011
- After petrol prices, higher interest rates set to bite - Sep 16, 2011
- Need better coordination in fiscal, monetary policies: Pranab - Oct 21, 2011
- Inflation remains major short-term challenge, says Pranab - May 21, 2011
- Inflation hurting government's credibility: Montek - Nov 20, 2011
- Inflation falls to two-year low in December (Roundup) - Jan 16, 2012
- Growth will improve, but inflation will stay sticky: RBI - Apr 16, 2012
- Inflation still at 'unacceptable' level: Pranab - Dec 15, 2011
Tags: bank of india, demand management, deputy chairman, economic advisor, economic demand, finance minister, fiscal and monetary policy, fiscal issues, food article, inflationary pressure, kaushik basu, manmohan, manmohan singh, meeting planning, ministerial group, monetary policy issues, montek singh ahluwalia, prime minister manmohan, prime minister manmohan singh, reserve bank of india