India's inflation up at 4.10pc
Sunday, 26 August 2007
NEW DELHI, Aug 25 (PTI): The government yesterday said it will not hesitate to take further fiscal steps to check inflation, which has risen to 4.10 per cent, but pointed out that augmenting farm production is the only way out for checking rising prices of vegetables and other food articles.
Expressing concern over rising prices, he assured the house that the government would take further fiscal measures, if required, to bring down the inflation.
Expensive fruits and vegetables pushed up inflation for the week ended August 11 to 4.10 per cent from 4.05 per cent in the previous week, as per government data released Friday.
Replying to a debate on the Appropriation Bill, 2007 in the upper house, Chidambaram said while the rate of core inflation has been brought down to 4.5 per cent, the government has no control over prices of crude oil that touched USD 72 per barrel in the international market.
During the week, prices of vegetables moved up by 5.1 per cent and fruits were costlier by 2.9 per cent. Analysts said prices of vegetables and fruits often go up around this time of the year since it is not a harvesting season and supply is disrupted because of rains.
Minister of State for Finance P.K. Bansal had earlier this week said in Parliament that prices of vegetables rose at the fastest pace year-on-year till August 4. Vegetable prices rose by 27.1 per cent, followed by wheat 10.14 per cent, milk 8.63 per cent, rice 6.74 per cent, pulses 3.33 per cent and wheat flour 2.91 per cent.
Expressing concern over rising prices, he assured the house that the government would take further fiscal measures, if required, to bring down the inflation.
Expensive fruits and vegetables pushed up inflation for the week ended August 11 to 4.10 per cent from 4.05 per cent in the previous week, as per government data released Friday.
Replying to a debate on the Appropriation Bill, 2007 in the upper house, Chidambaram said while the rate of core inflation has been brought down to 4.5 per cent, the government has no control over prices of crude oil that touched USD 72 per barrel in the international market.
During the week, prices of vegetables moved up by 5.1 per cent and fruits were costlier by 2.9 per cent. Analysts said prices of vegetables and fruits often go up around this time of the year since it is not a harvesting season and supply is disrupted because of rains.
Minister of State for Finance P.K. Bansal had earlier this week said in Parliament that prices of vegetables rose at the fastest pace year-on-year till August 4. Vegetable prices rose by 27.1 per cent, followed by wheat 10.14 per cent, milk 8.63 per cent, rice 6.74 per cent, pulses 3.33 per cent and wheat flour 2.91 per cent.