Inflationary conditions out of my control: PM
Prime Minister Manmohan Singh today told editors that international economic and political conditions that were "out of his control" had led to high inflation in the country.business Updated: Jun 29, 2011 16:22 IST
Prime Minister Manmohan Singh on Wednesday told editors that international economic and political conditions that were "out of his control" had led to high inflation in the country. He added that inflation should drop to six % by March 2012.
"We asked him that as an economist, you are expected to perform well on the economic front - but in your tenure, inflation has gone up so high. He (prime minister) said that I agree and take the criticism," Kumar Ketkar, editor of Divya Marathi told reporters after the interaction at the prime minister's 7, Race Course Road residence.
The prime minister told the editors that there "are three factors which are out of his control - the international commodity prices, the Middle East crisis, the oil prices".
Manmohan Singh told the group that the government was trying to bring back inflation under control. "He said by March the inflation would be around six %," Ketkar said.
India's food inflation had soared to a nearly 10-week high of 9.13 % for the week ended June 11. The government also increased the price of diesel, cooking gas and kerosene last week.