As opposition geared up to move a an adjournment motion on the issue of price rise, Finance Minister Pranab Mukherjee admitted that more needs to be done to get desired outcomes on inflation control, hoping it will come down to 6 to 7% by March end.

Mr Mukherjee said that "...While there has been a steady improvement in the inflation situation in India, there are important tasks ahead to be undertaken to get the desired outcomes.”

He attributed the rising prices to demand-supply mismatch, depreciating rupee, global commodity prices and easy monetary policy followed by some countries.

Mr Mukherjee said that "The government is committed to bring down inflation to more acceptable levels. I hope to see the March end inflation between 6 to 7% and sought suggestions from the members on how to tackle the issue.”

Inflation has remained over 9% since December 2010. The headline inflation measured on WPI was 9.7% in October, while the rate of price in food segment for the week ended November 5 was 10.6%.

(Sourced from BS)