Current Sri Lankan Time: Oct 31, 2020 03:09:12 PM | 248770 Registered Members & Counting...     sign in | join now 
Tops.LK - Truly Sri Lankan! Tops!
Online TV & Radio Photo Galley Twitter FaceBook Youtube

Now Online: 132 Users, 4 Members:
India working hard to curb inflation Every effort to manage economy

INDIA: India’s Prime Minister Sunday defended his decision to raise fuel prices as a measure of fiscal prudence, saying his Government was making every effort to tackle double-digit inflation that is hurting the poor.

Headline inflation in India may touch 10.39 percent in July, its sixth straight month in double digits, turning into the single biggest challenge for the Government and prompting the central bank to raise rates four times already this year.

A year-long spell of double-digit food inflation has also sparked street protests, giving the opposition a handle against the Government ahead of major state elections in early 2011, including in eastern West Bengal and southern Tamil Nadu states. “It is our responsibility that we manage our economy with prudence so that our development is not affected adversely in the future because of high debt,” Prime Minister Manmohan Singh said in a speech from the ramparts of a Mughal-era fort to mark India’s 63rd Independence Day.

“The subsidy on petroleum products has been increasing every year. It had become necessary therefore to increase the prices of petroleum products. If this had not been done, it would not have been possible for our budget to bear the burden of subsidy.” In June, the Government moved to free up gasoline pricing and raised prices of other fuel in a bid to keep the fiscal deficit within the targetted 5.5 percent of GDP in 2010/11.

Singh, leading the Congress party coalition for a second term after last year’s strong election victory, also called for raising the annual farm growth rate to 4 percent, and said his Government had given incentives to farmers to encourage production.

“But one effect of providing higher prices to farmers is that food prices in the open market also increase,” he said.

Security was tight across the country, with fears of militant attacks and tensions high in Kashmir, where a renewed separatist uprising has killed over 50 people in past two months. India’s Maoist rebels have also stepped up attacks in the countryside.

New Delhi, Monday, Reuters

Posted on Tuesday, August 17, 2010 @ 04:46:30 LKT by

 Printer Friendly  896 Article Reads.

Article Rating
Average Score: 0
Votes: 0

Please take a second and vote for this article:
Excellent  Very Good  Good  Regular  Bad    

"India working hard to curb inflation Every effort to manage economy" | Login/Create an Account | 1 comment The comments are owned by the poster. We aren't responsible for their content.

No Comments Allowed for Anonymous, please register

Re: India working hard to curb inflation Every effort to manage economy (Score: 1)
by nicewatch on Wednesday, December 04, 2019 @ 08:58:20 LKT
(User Info | Send a Message)
You can tell winter has come to Glashütte by the bite in the air.Replica Watch It’s crisp and it’s cold; the moon is rising, Fake Rolex the temperature’s falling and the starry sky is crystal clear. At night snow begins to fall, Replica Handbags leaving our world in glistening white, stretching Breitling Replica out under a pale blue sky as far as the eye can see. A time for quiet contemplation. A time to dream. Wintertime is dream time. This is the scenery in which they, the watchmakers at Glashütte Original, spend their winters…Replica Tag Heuer Dreaming up watches! The one we are presenting to you is an absolute marvel that comes in the form of the pale blue PanoMatic Luna.



  • Singha Multimedia Creations, Your Total IT Solutions Partner. - Call +94 112 848 948
  • Feel the vibe of Sri Lankan Music & Programs on Mihila Radio
  • The Ultimate Place for Buy, Sell, Rent or Lease Any Property in Sri Lanka. Visit AnyAds.LK, Just One, Thousand Results - Call +94 112 848 948



Version 2.6 build 5642 Beta

Privacy Policy