Yeddyurappa discusses tackling inflation with Rangarajan

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Bangalore, Jun 19 (UNI) Karnataka Chief Minister B S Yeddyurappa and Prime Minister's Economic Advisory Council Chairman C Rangarajan today discussed the measures to contain the rising prices of essential commodities in the wake of increasing inflation.

''We discussed the impact of high inflation on the poor. I expect the Union Government will take more effective steps to bring the price situation under control without any major adverse impact on the growth scenario,'' Mr Yeddyurappa said.

Speaking to reporters after meeting, the Chief Minister said he had sought advise on how to balance the need of development financing and finding ways to protect the interests of common man from growing inflation.

Mr Yeddyurappa said he also discussed about the infrastructure package for Bangalore city and sought more funds from the Centre.

''We conducted a study which said Rs 40,000 crore was needed to improve infrastructure in the IT capital during 2007-12. Unless the Centre extends a helping hand through substantial increase in allocation under Jawaharlal Nehru National Urban Renewal Mission (JNNURM), it will be difficult,'' he said.

Of the Rs 7,500 crore allocated under JNNURM for seven years for Bangalore and Mysore, the state government had received only Rs 1,375 crore so far. It would be extremely difficult for the government to find required resources to finance infrastructure needed for the city, he said.

Mr Yeddyurappa said he also discussed about the financial inclusion of 40 per cent of the rural population, which were still left out of the banking system.


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