FM expresses concern over inflation, trade imbalance

Written by: Pti
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Kandi (Murshidabad), Feb 6 (PTI) Finance Minister PranabMukherjee today expressed concern over spiralling inflation,the country''s increasing current account deficit and tradeimbalances.

"These are the issues which raise concern. Inflationarypressures are there and non-oil imports are rising," he toldreporters on the sidelines of an event here today.

He said that imports of capital goods, raw materials andintermediaries are rising, widening the trade gap.

Though financing the trade gap was now manageable, hecautioned that if the situation continued to be like this, thescenario would be uncertain.

The Finance Minister said the import bill would risefurther due to high oil prices.

"I do not know to what extent we will be able to controlimport of petroleum products," he said.

Referring to SBI''s proposed rights issue, he said that adecision on the government subscribing to the issue would betaken at the right time.

Mukherjee today inaugurated the 5,000th rural branch ofthe SBI at Sagardighi and the 13,333rd branch of the same bankhere at Kandi, in Murshidaband district.

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