PM seeks more time to tame inflation

May 6th, 2008 - 12:45 am ICT by admin  

A file-photo of Manmohan Singh

New Delhi, May 5 (IANS) With his United Progressive Alliance (UPA) government under fire for the rising prices of essential commodities, Prime Minister Manmohan Singh Monday sought more time to put inflation under control. “We have taken several measures (to contain the inflation). It will take some time,” he told reporters in Rashtrapati Bhavan during an investiture ceremony Monday.

However, the prime minister was optimistic about the impact of the “several steps taken” by his government to control prices.

“Things will improve. The situation in the agriculture sector is excellent. There has been a record food production of 227 million tonnes,” Manmohan Singh said.

His remarks come in the wake of inflation touching a 42-month high of 7.57 percent last week.

Manmohan Singh said the government has taken measures to improve the procurement of wheat, rice and vegetables as well as pulses.

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