Prices to moderate (probably in 2017): Montek

Failure to contain inflation belies govt's 'confident' deadlines


Trithesh Nandan | July 11, 2011

The soaring prices are here for a long haul. Planning commission deputy chairman Montek Singh Ahluwalia may have said as much on Monday when he told reporters, "In the 12th five year plan (2012-17), we should aim at four percent growth in agriculture and that needs a lot more in horticulture, livestock, poultry and so on. With that increase in supply we will be able to moderate prices,” at the sidelines of a book launch in the capital.

The government had, so far, claimed to be confident of beating price rise, now in its third year, soon.

The deputy chairperson said, “We inherited growth rate from the 10th five year plan a little above two percent in agriculture. I think we will be able to grow at three percent by the end of 11th five year plan (2006-11). We had wanted to be at four percent.” Ahluwalia was speaking at the launch of a book titled ‘Growth and Poverty: The Great Debate’.

In the month of May, inflation stood at 9.06 percent, higher than April's 8.66 percent. Analysts expect inflation to rise further in June, following the increase in prices of diesel, kerosene and domestic LPG in June.

So, despite the claims of the government over containing inflation and price rise, India seems saddled with both for at least another six years.

In fact, the plan panel deputy chaiman's comments between last year and now, made at different platforms, show just how short the government may have fallen of tackling the twin problems for the common man.

4 Jan, 2010
Food inflation to ease next month: Montek
The planning commission said food inflation will come down next month from a more than a decade's high of around 20 per cent, as apprehensions about adverse effect of drought were easing. (Source: Indian Express)

Jan 13, 2010
Prices to come down by Jan-end: Montek
Describing the food inflation a "temporary phenomenon", the planning commission has said that the prices of various food items will decline towards the month-end and that the economic growth during the year would exceed 7 per cent. (Source: Indian Express)

Mar 27, 2010
Inflation to drop in 2-3 months: Montek
Planning Commission Deputy Chairman Montek Singh Ahluwalia said that inflation would come down in the next two to three months because of declining food prices and ruled out that food inflation would spill over to non-food items. (Source: PTI)

November 02, 2010
Inflation will come down by December-end: Montek Singh Ahluwalia
Planning Commission Deputy Chairman Montek Singh Ahluwalia said the wholesale price inflation will come down by the end of December 2010. (Source: ANI)

January 12, 2011
Inflation commensurate with economic prosperity: Montek
Attributing rising prices partly to growing economic prosperity, Planning Commission Deputy Chairman Montek Singh Ahluwalia exuded confidence that food inflation would come down by the end of this fiscal. (Source: PTI)

7 Jan, 2011
March inflation may be 7 pc: Ahluwalia
India's headline inflation in March could be around 7 per cent, deputy chairman of India's Planning Commission Montek Singh Ahluwalia told reporters in an interview on Friday. (Source: Economic Times)

Jul 10, 2011
Inflation likely to come down by December: Montek
Amid inflation hovering around nine per cent levels in May, planning commission deputy chairman Montek Singh Ahluwalia expressed hope that it would come down by December. (Source: PTI)



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