Surging inflation: Cong hopeful of price moderation
New Delhi, May 2 (UNI) Despite the headline inflation rate surging to 7.5 per cent, the Congress today exuded the hope that the stringent supply and demand side measures taken by the governemnt would work soon.
"You will see results...Just wait for measures to work," AICC Spokesman Abishek Manu Singhvi assured the mediapersons.
"We are cent per cent sure it (inflation) will come down... Wait for a while. It will come down," he said while replying to a battery of questions fielded to them on the spiralling price rise.
Asked
if
the
rising
inflation
reflects
badly
on
Prime
Minister
Manmohan
Singh,
a
renowned
economist,
Dr
Singhvi
said
even
the
Opposition
had
conceded
that
the
present
team
in
government
was
more
competent
knowing
India's
economy.
"But
the
team
does
not
have
a
magical
button
to
find
a
solution
overnight."
Dr
Singhvi
said
it
was
true
that
the
governent
had
taken
consistent
and
strong
action
over
the
past
few
weeks.
"But
the
totality
of
the
action
had
not
borne
fruit.
We
are
waiting
for
results.
We
hope
the
prices
will
moderate
shortly."
UNI
SH
MSJ
KN1926