Government to take steps to control inflation

inflationThe government, visibly concerned over rising food inflation, has said that it will take steps to arrest rising prices of essential food items in the country. Finance Minister Pranab Mukherjee said that the government is already providing subsidy to the poor people of the society through the public distribution system (PDS) and strengthening the same to ensure its proper utilization.

Addressing members of Rajya Sabha, Mr. Mukherjee said: "The government is responsible, the government is responsive. As and when appropriate policy measures are needed, it will be taken."

The government is considering unification of consumer price index, and asked the central statistical organization to look into its feasibility to get more clear causes of inflation. Currently, wholesale based index is being used to get information regarding trends in price rising on weekly basis which, as per economists, is a complex method for finding the exact figures of inflation.

It should be recalled that wholesale price index based inflation rate is currently lying in the negative zone, but still there is no relief from woes for common man, finding it difficult to make both ends meet.