Inflation will be brought under control: FM

New Delhi, Apr 25 (UNI) Finance Minister P Chidambaram today expressed confidence that ''inflation would moderate'' over a period of time following measures taken by the Government.

''Every measure is being taken to control inflation....And I am confident that inflation will moderate over a period of time,'' Mr Chidambaram said in the Lok Sabha.

He said the steel manufacturers had been asked to hold the priceline for the next 2-3 months.

''We have to be patient,'' he said and reiterated that the Government would take strong administrative steps against the behaviour of some economic players who were contributing to the price rise.

At the same time, he criticised some political parties for supporting the Delhi traders stand that no raids should be conducted at godowns.

On the food situation in the country, he said wheat production had been ''very good'' in 2007 and so was the procurement.

''And with good monsoon predicted, I hope that this year's first kharif production is also very good,'' he added.

He denied that the UPA Government had reduced allocation of foodgrains to the public distribution system (PDS).

He supported the suggestion that more wheat and rice should be allocated to the PDS.

He said rice was being procured from certain states to make it available to Kerala.

On banning futures trading, he said the Government would take action if the Abhijeet Sengupta Committee Report was not received within a specified time.

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