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Govt has ability to control price rise: Pranab
Published on 14 Jan. 2011 12:48 AM IST
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Fundamentals of the Indian economy are strong and the government has the ability to address the immediate concerns of price rise, Finance Minister Pranab Mukherjee said Thursday. “Though there are some immediate concerns for economic management arising from inflationary pressures, and from the uncertain external environment, we have the ability to address them,” Mukherjee said during his pre-budget consultations with NGOs here. Soaring prices of essential commodities have become a big concern for the government. Annual food inflation has almost doubled during the last one and a half months. The food inflation has eased marginally to 16.91 percent for the week ended Jan 1 from 18.32 percent in the previous week. The finance minister said Indian economy has recovered robustly during the current financial year from an unprecedented global economic slowdown.

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