Inflation control at the cost of GDP growth: Chidambaram

April 16th, 2008 - 5:35 pm ICT by admin  

New Delhi, Apr 16 (ANI): Inflation control measures and the robust Gross Domestic Product (GDP) growth cannot go hand in hand, said Finance Minister P Chidambaram today in the Rajya Sabha.

Chidambarams comments came in response to a remark made by senior BJP leader Murli Manohar Joshi.

Congress leader PJ Kurien defended the government on the issue of price rise, stating that the Reserve Bank has revised the Cash Reserve Ratio (CRR) eight times to control inflation.

Chidambaram said, If GDP growth was to be sacrificed by some margin, the government would not mind to control inflation. We cannot have Inflation control measures and GDP growth at the same time.

The RBI is due to announce the Annual Credit Policy on April 29.

Economists are expecting a hike in the CRR. (ANI)

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