BJP demands JPC to probe into rising inflation

Aurangabad (Maharashtra), Mar 4: The BJP today demanded setting up a Joint Parliamentary Committee (JPC) to probe into the rising rate of inflation.

Addressing a news conference here, BJP President Rajnath Singh said his party has demanded the Congress-led UPA government at the Centre to set up the JPC to probe into all the aspects of the inflation, which has become a cause of concern for every household in the country.

Mr Singh said the JPC should be given a time frame to submit its findings to the government.

The BJP Chief alleged that the UPA government has nexus with the blackmarketers and profiteers.

Mr Singh also termed the general budget for the year 2007-8 an ''inflationary one'', and charged that the rising inflation has already impacted the infrastructure development. ''It has made a negative impact on the industry,'' he said.

''After the inflationary budget, the recent hike in CRR and Repo rate by the Central bank, further worsened the situation,'' he said.

Mr Singh pointed out that the housing finance companies and the banks have increased their lending rates after the RBI's recent announcements and demanded the banks to immediatly withdraw the hike.

Referring to the rise in the rates of pulses (dal), Mr Singh said at least 36,000 Metric Tonne of pulses have been exported, despite ban on their export, which has led to an acute shortage of the commodity.

Besides, the situation caused hike in the domestic prices of the pulses, he said and demanded that the government should appoint a retired supreme court judge to inquire into the serious violation of law in the export of pulses.

UNI

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