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Pranab: inflation rate can reach double-digit mark

Updated - 17/3/2010 - hindu.com.

 

Union Finance Minister Pranab Mukherjee on Tuesday cautioned that the inflation rate could reach the two-digit mark in the coming months but gave an assurance that the government was taking all possible steps to protect vulnerable sections. He identified the three main objectives of the budget as price control, fiscal consolidation and expansion of the economy.

Replying to the debate in the Rajya Sabha on the Union budget, Mr. Mukherjee maintained that while there were other options, the government opted for hiking taxes on petroleum products in order to share the proceeds with States.

With the Rajya Sabha approving the budget through a voice vote in the presence of Prime Minister Manmohan Singh, Parliament has passed the Vote on Account and Appropriation Bills which authorise the government to withdraw money from the exchequer. The Lok Sabha approved the budget last week.

 

www.hindu.com/2010/03/17/stories/2010031756900100.htm

 

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