Fall In Inflation Due To Dip In Global Commodity Prices: Ex-FM

Chidambaram said he regretted that the Government has not moved forward on the Food Security Act, which might have saved the exchequer 60,000 crore.

Similarly, he added the Government was holding back funds towards food security programme MNREGA. “These unwelcome developments may have affected the demand.”

Referring to the Government’s initiative of unloading stocks of wheat and rice in the open market, nudging States to amend the APMC Act, asking them to take action against hoarders and imposing MEP on exports, Chidambaram said these were a continuation of the UPA Government’s measures.

“While we welcome them, we would like to know what new measures were taken by the Government that contributed to the decline in inflation rates,” he said.

Finance Minister Arun Jaitley yesterday had attributed the declining inflation to the initiatives taken by the NDA Government and had exuded confidence that the country was on the way to achieve a low and stable price regime.

“It is heartening to note that we have been able to bring food inflation under control. Growth in vegetable and protein prices that have been contributing to the recent increase in inflation rates have shrunk, thanks to the steps taken by the Government,” Jaitley had said in a statement.

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