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Montek Ahluwalia predicts easing of food price inflation by next month | Planning Commission Deputy Chairman Montek Singh Ahluwalia said on Monday that the current food inflation would be eased by the end of next month.
Ahluwalia said, "The dominant part of inflation that is a concern is food price
inflation. I don't believe that is the result of excess liquidity though clearly
when inflation begins to go up, I mean, one of the instruments that people use
is the monetary instrument. So I don't want to speculate, I think to come to a
conclusion because we have a problem with one set of prices, what is the ideal
way of responding, that is a complex issue." "I think in our case, a lot of it
has to do with expectations, managing the supply side and better use of existing
stock. Plus, I think that with fears of the negative effect of the drought being
reduced there will be a softening in the food price inflation in the next month,"
he added. The seminar, titled 'Global Economic Crisis: Back to Keynes', was jointly
organised by Federation of Indian Chambers of Commerce and Industry (FICCI)
and
Shri Ram Centre for Industrial Relations and Human Resources. Lord Meghnad
Desai,
Professor Emeritus, Centre for Study of Global Governance at London School of
Economics, spoke on the effects of recession on the economy and revival of the
economy. Lord Desai said, "We don't have any major recessionary problems and
now
is the time to accelerate the growth of over and above 9 percent. I think the
economy is capable of a double-digit growth rate but that will require serious
reform, of the landmark nature." "Is it going to happen? I am not so sure because
I don't know if the government is actually seeing that there are over all recession
problems and that now they can confidently move ahead and face the longer term
problems of the economy," he added. The other speakers at the seminar included
Lord Robert Skidelsky, Emeritus Professor, University of Warwick; Robert Zagha,
Country Director-India, World Bank. Rajiv Kumar, Director and Chief executive,
ICRIER; Gurcharan Das, the chairman of Centre for Civil Society; and Suman K
Beri, the member of Prime Minister's Economic Advisory Council were the other
distinguished guests. |
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