i Develop Stocks Advisory

Inflation major challenge for government: PM Prime Minister Manmohan Singh on Tuesday said curbing inflation and maintaining growth momentum was a major challenge for the government. In an interaction with editors in New Delhi, the prime minister said his government had taken a number of measures to rein in inflation and hoped prices would moderate with time. “It's not a typical inflation, it's influenced by global factors,” Singh was reported as saying. India's headline inflation during the week ended June 28 touched a 13-year high of 11.89 percent, while the growth rate of industrial production decelerated to a six-year low of 3.8 percent. In view of soaring inflation, economists have expressed doubts if India would log an eight percent growth this fiscal, compared to nine percent last year.