Higher oil prices will impact on inflation : Chidambaram

Hyderabad, Apr 30 (UNI) Union minister for Finance P Chaidambaram today said 'there was certainly great impact on inflation due to recent increase in oil prices in world market.

Talking to newsmen here, Mr Chidambaram said the government would take steps to find a solution to the rise of oil prices. The hike, however would not hamper the Gross Domestic Product (GDP) growth rate of the country.

Stating that the oil price hike was a matter of concern, he said the GDP growth rate would not be affected this year and the targets would be achieved.

UNI AP VV SM1400