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Economy

Steps to control inflation ‘will take time’: PM

Agencies

Posted online: Monday, May 05, 2008 at 1934 hrs Print Email


New Delhi, May 5:: As the government continued to face all-round flak over the soaring prices of essential commodities, PM Manmohan Singh said, several steps have been taken to tame inflation but it would take some time before these bear fruit, on Monday.

"We have taken several measures. It will take some time (to have an impact)," he told the media when asked about the inflation graph going further up.

Exuding confidence that "things will improve," he said, the agriculture situation was ‘excellent’ and there has been ‘a record food production of 227 million tonnes.’

"We have improved upon procurement of wheat and rice as well as vegetable oil and pulses," he said.

Government has been facing flak from both the allies and the opposition over inflation soaring to a 42-month high of 7.57 per cent for the week ended April 19 on account of higher prices of vegetables, food articles, steel and some fuel items.

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