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Inflation woes: FM says govt ready to take fiscal steps
Published on Tue, Apr 15, 2008 at 09:16   |  Updated at Tue, Apr 15, 2008 at 16:46  |  Source : CNBC-TV18

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.”

 


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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.”

 

The government will take additional steps to raise supply, especially of foodgrains, the Finance Minister added.
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