The economic Advisory Council Chairman to the Prime Minister of India says that the inflation is likely to reduce to 6% from the present uncomfortable level of over 7.5%. The Indian economy is expected to grow at 8-8.5% despite global turbulence. Several fiscal and monetary measures are taken to contain inflation.
Indian Prime Minister says: Inflation is a tax on the poor. Corrupt politicians and bureaucrats do not allow the benefits of existing safety nets such as rural employment schemes and public distribution systems (PDS) to reach the poor. In many states, less than 50% of the subsidized food grain reached the PDS target group. The question is how long it will take to show the results? After the forthcoming general elections?
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