NEW DELHI: Committing to break the vicious cycle of high inflation and high interest rate, India’s Finance Minister Arun Jaitley has made a case for putting in place strict measures and special courts to stop hoarding and black marketing, in addition to reviewing the commodity laws.
“Long inflationary trends have adversely impacted the food and nutritional security of the common man. We are committed to breaking this vicious cycle of high inflation and high interest rates,” he said during a pre-Budget meeting with state finance ministers.
He further said that slowdown in economic growth coupled with high inflationary pressure poses a challenge to the country’s economy, which has crawled at sub 5 per cent in the recent years.
“…there have been states registering much robust growth. This is clearly a case of sum being less than its parts and needs to be addressed through our concerted efforts.
“Mandate of 2014 clearly spells out that economic growth cannot be compromised at any cost and is sine qua non to reap the benefits of the demographic dividend,” Jaitely said. -PTI
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