Finance Minister P Chidambaram said the Reserve Bank of India, or RBI, plans to take appropriate steps to check inflation, reports CNBC-TV18. The government has taken fiscal measures and will not hesitate to take more, he said. “The government can sacrifice badly needed revenues to take additional fiscal steps.”

According to Chidambaram, the results of supply-side steps to tame inflation are not immediate. “Supply-side responses to measures can come only in the medium-term.”