Decline in fuel prices bound to push down inflation: Chidambaram

October 21st, 2008 - 10:31 pm ICT by ANI  

New Delhi, Oct 21 (ANI): Finance Minister P.Chidambaram today said with the gradual decline of fuel prices in the international market inflation will come down.

He ruled out the reduction in fuel prices till the prices come down to 67 dollar per barrel.

Replying to the debate in the Lok Sabha on the supplementary Demands for Grants for the current fiscal, Chidambaram said the financial stability is a new issue that has rocked the world.

He said this has ripple affects on India. He, however, renewed the pledge that banking system in the country is safe with Government stake in it.

Referring to the loan waiver scheme, he said after the recent release of Rs. 10,000 crores, another installment of Rs. 15,000 crore is being released.

The Finance Minister added that many farmers have who have not yet taken their loan waiver clearance certificates from the bank- will be delivered these personally.

Intervening in the debate, the Agriculture Minister, Mr. Sharad Pawar dismissed the reports that States are being discriminated in allocation of food grains.

He said Kerala is being allocated rice on the basis of the average of last three years and expressed hope that it can be enhanced. (ANI)

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