Government will find it difficult to control inflation: CII Chief KamathMay 1st, 2008 - 3:49 pm ICT by admin
New Delhi, May 1 (ANI): Confederation of Indian Industry (CII) President K V Kamath today expressed concern over rising prices going to levels where controlling it could become difficult for the government.
Seeking to underplay the political controversy over the inflation, Kamath said, “Growth momentum is too strong for the government to control.”
The current “inflationary momentum has caught us by surprise. Initially, we thought it was only external factors and food driven but suddenly it has gathered momentum in the last three-six months,” Kamath said.
We can take only a few steps to control inflation at this point of time, because a large part of the inflation is imported, and could not be helped, he added.
He, however, expressed confidence about the political will of the nation overcoming the crisis.
He said the steps on the supply side could have been taken earlier by the government to control rising prices. (ANI)