Fri, Aug 8 10:17 PM
Bangalore, Aug 8 (PTI) The government today expressed the hope inflation will come down to single digit in the next three to six months although it has just broken the psychological 12 per cent level. "Tight monetary measures will tame inflation in three to six months," Union Finance Minister P Chidambaram said during a book reading session here.
Pointing out that rising global oil and commodities prices had led to the spiralling inflation, he said, "We have no control over international and commodities prices." "What we are trying to do, given the price hike, is to moderate aggregate demand by using tight monetary measures, by sacrificing a bit of growth," he said, adding "that was the only way inflation could be tamed".
"There are signs of moderation (commodities and oil prices), but I cannot say whether the trend will continue," he said while interacting with readers and eminent personalties of the industry during the book reading function 'A View from Outside - Why Good Economics Works for Everyone' authored by him. "It has been a difficult year for us," he said.
However, four years of achievement of the UPA government could not be wiped away by the last one year, he noted referring to the rising inflation. "We are doing our best to overcome inflation.
It is driven by crude oil and commodities prices over which we have no control," he reiterated. The UPA had delivered a nine per cent growth in the last four years which no other government had done, he claimed and equated it to a good "Bradman batting average".
"Tendulkar played today. He scored only six runs.
Does that mean, you can wipe out all his achievements of the past?" he asked. PTI.
If you are young, have a hectic social life where you drink and party, and have applied for a job, chances are you will lose out to someone who is a teetotaler.
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