Control of inflation has been a priority for the United Progressive Alliance government and the steps taken so far would enable the country to return to a regime of moderate inflation in eight to 10 weeks, Prime Minister Manmohan Singh said here on May 22.
Releasing the UPA''s Report to the People, 2004-2008 here, Dr. Singh said the government had made determined efforts to accelerate the pace of development while maintaining price stability. Pointing out that sharp escalation in global oil prices, the price of steel and the price of food crops had impacted the domestic economy, he reiterated the measures taken by the government to meet the challenge and added that a normal monsoon and "public recognition" of the government''s determination to reverse the spurt in inflation should help alter the expectations.
Releasing the UPA''s Report to the People, 2004-2008 here, Dr. Singh said the government had made determined efforts to accelerate the pace of development while maintaining price stability. Pointing out that sharp escalation in global oil prices, the price of steel and the price of food crops had impacted the domestic economy, he reiterated the measures taken by the government to meet the challenge and added that a normal monsoon and "public recognition" of the government''s determination to reverse the spurt in inflation should help alter the expectations.
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