Translate

Tuesday, July 15, 2008

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.

1 comment:

Anonymous said...

Curbing inflation seems far from possible as Mr. Singh himself pointed out that what we are facing today is not typical; rather it is influenced by global factors. As Barclay's predicted and was reported by UTVi, inflation ma go up to 17%. Sustaining growth seems very difficult in such a scenario!

Economic Event Calendar

GMT+5:30 Event Vol. Actual Consensus Previous
Saturday, May 24
01:00 CFTC S&P 500 NC Net Positions 1 $-96.6K $-122.2K
01:00 CFTC Oil NC Net Positions 1 186.4K 185.3K
01:00 CFTC Gold NC Net Positions 1 $164.0K $161.2K
01:00 CFTC GBP NC Net Positions 1 £24.0K £27.2K
01:00 CFTC AUD NC Net Positions 1 $-59.1K $-49.3K
Monday, May 26
00:10 Fed's Chair Powell speech 3
24h Spring Bank Holiday 0
24h Memorial Day 0
12:00 Employment Level (QoQ) 1 5.534M
Tuesday, May 27
04:31 BRC Shop Price Index (YoY) 1 -0.1%
Economic Calendar >> Add to your site

Best Mutual Funds

Recent Posts

Search This Blog

IPO's Calendar

Market Screener

NSE BSE Tiker

Custom Pivot Calculator

Popular Posts

Market & MF Screener