By IANS,
Chennai : Union Finance Minister P. Chidambaram said Saturday that steps were being taken to combat inflation and price rise and there was no need to panic.
“While there was no need to be elated when the price index fell from 7.41 to 7.14 percent last week, nobody needed to panic when it rose again to 7.34 percent now. The prime minister has already initiated steps to tackle the problem. I have already informed the parliament about it,” Chidambaram said.
Chidambaram was speaking to journalists on the sidelines of a convocation ceremony here.
“Inflation and price rise are a global phenomenon. Therefore, politicising the issue in India is uncalled for,” Chidambaram added.
Both the opposition Bharatiya Janata Party and the Left parties that shore up the ruling coalition at the centre have assailed the government for the ínflation.