India may take more steps to cool inflation: Nath

Commerce Minister Kamal Nath said the Indian Government can announce moves within the next "couple of days" to calm inflation.

The Indian government is considering more steps to calm inflation and could announce moves within the next "couple of days", Commerce and Industry Minister Kamal Nath said on Tuesday.

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"We are continuously discussing it. You can see some steps in the next couple of days," Nath told reporters on the sidelines of a business conference.

He said the government was looking at ways to check soaring steel and cement prices.

India's widely watched inflation rate accelerated to 7 per cent in late March, its highest in more than 3 years, forcing the government to cut import duties and sparking speculation that the central bank may act soon.