More measures to calm prices: FM

A cabinet panel on prices will take more steps to calm inflation, says Finance Minister P Chidambaram.

A cabinet panel on prices will take more measures to calm inflation and will meet soon, Finance Minister Palaniappan Chidambaram said on Tuesday.

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Indian inflation jumped to its highest in more than three years in late March reaching 7.41 per cent. The ruling communist-backed government has taken several steps to cool price pressures ahead of state and national elections this year and next.

"I do not know when the cabinet committee on prices will meet but when it meets, I expect some measures," Chidambaram told reporters without elaborating.