Govt will try to contain inflation at 6.5pc in FY-11
Friday, 11 June 2010
FE Report
Finance Minister AMA Muhith Thursday in his budget speech said the government will keep trying to contain inflation at 6.5 per cent in 2010-11 fiscal year.
"We know the first victim of inflation is the poor people. We have, therefore, widened the ambit of food security programme," Muhith added.
Mr Muhith said agriculture and rural development programmes have been strengthened to contain inflation.
"With the recovery of global economy, domestic demand is on the increase in many countries. This has resulted in unexpected price escalation in international commodity markets creating upward pressures on inflation in many countries," Muhith added.
The finance minister said his government spared no efforts to strike a balance between overall supply and demand and took necessary steps to import commodities of daily necessity.
Mr Muhith said an important commitment of the government is to sustain people's purchasing power by containing inflation.
Finance Minister AMA Muhith Thursday in his budget speech said the government will keep trying to contain inflation at 6.5 per cent in 2010-11 fiscal year.
"We know the first victim of inflation is the poor people. We have, therefore, widened the ambit of food security programme," Muhith added.
Mr Muhith said agriculture and rural development programmes have been strengthened to contain inflation.
"With the recovery of global economy, domestic demand is on the increase in many countries. This has resulted in unexpected price escalation in international commodity markets creating upward pressures on inflation in many countries," Muhith added.
The finance minister said his government spared no efforts to strike a balance between overall supply and demand and took necessary steps to import commodities of daily necessity.
Mr Muhith said an important commitment of the government is to sustain people's purchasing power by containing inflation.