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Indian FM calls for effort to fight inflation

08-06-2010 09:00 BJT

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Indian Finance Minister Pranab Mukherjee is calling for a collective effort by all political parties and provincial governments to reduce inflationary pressure on the economy.

The minister made the appeal during a special debate in Indian Parliament. Inflation has been a problem for the country's 1.2 billion people, and remained high in June. Official data shows that wholesale prices rose about 10 percent in June from a year earlier.

Although steps taken by the government have been cooling down the prices of essential commodities, more work will still need to be done to fulfill what the Prime Minister promised, easing inflation to 5 to 6 percent by the end of the year.

Pranab Mukherjee, Indian Finance Minister said "Public distribution system (PDS) is to be implemented by the states, Essential Commodities Act have to be implemented by the state government, and maintenance of essential supplies are to be implemented by the state governments. Therefore, unless there is a coordinated effort, both by the state governments and central government, it would be difficult to address the problem."

Editor:Xiong Qu |Source: CNTV.CN

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