Govt to curb inflation; do not panic: Montek Singh

 According to Montek Singh Ahluwalia, Deputy Chairman, Planning Commission, the government measures on inflation would take time to take effect. He is confident that the inflation would soon be brought under control. He agrees that the current level of inflation is unacceptable. Ahluwalia also stated that the Finance Minister and RBI may take more steps to contain inflation. He assured that there would be no need to press panic button as yet, reports CNBC-TV 18.  

Ahluwalia, said, “There is no doubt that the government does regard that present rate of inflation is not acceptable and therefore I am sure that it will be brought under control. But one also need to avoid panic reactions; when we have just take string of measures and one don’t even have the price index after those measures. I think one should wait to see what impact there going to happen.”