Control inflation even if growth is hit: Cong to Govt | india | Hindustan Times
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Control inflation even if growth is hit: Cong to Govt

india Updated: Jun 20, 2008 22:04 IST

With no respite on the price rise front and inflation entering double figures, the Congress on Friday asked the government to take strong steps even if they were at the cost of growth and said a meeting of all chief ministers and state finance ministers be called on the issue.

"The time has come for some strong steps. Growth rate may be slowed down if we take strong steps. But to give respite to the common man, we should do it," AICC spokesperson Shakeel Ahmed told reporters in New Delhi.

He said the government should call a meeting of chief ministers and state finance ministers in which a detailed discussion on what steps can be taken to control inflation can take place.

"It is a matter of concern that the inflation has continued to increase, causing problems for the common man," Ahmed said.

Referring to the rate of inflation touching 11.05 per cent, he said this was as a result of the increase in the prices of petroleum products.

Ahmed, however, said the current calculation of inflation had not taken into account the reduction in taxes made by the state governments to offset the oil price hike.

Attributing the galloping rate of inflation to international factors, he said the global rates of crude oil have touched a record 140 dollars a barrel and there was an increase in the rates of edible oil and pulses, 50-70 per cent of which were imported.

"We are satisfied with the steps taken by the government to control price rise, such as giving incentives for imports and discouraging exports," Ahmed said.