Crude not sole contributor to inflation: Planning Comm

While speaking in Parliament a few weeks back, the Finance Minister blamed high crude prices as the primary reason for high inflation. But Montek Singh Ahluwalia, the Deputy Chairman of the Planning Commission says that crude is not the singular factor responsible for the spurt in Parliament.

“Crude prices have been high for a long time. So, change in crude prices is what determines inflation. That is not a huge problem, but it is a problem. That is not what is causing the rise in inflation right now,” said Montek Singh Ahluwalia, Deputy Chairman, Planning Commission.