As India’s wholesale price index soared to 9.78 percent, Finance Minister Pranab Mukherjee expressed concern over the situation and said that the government and the central bank would ‘collectively’ tackle the inflationary pressures. According to the latest government data, India’s wholesale price index, the country’s main inflation estimate, rose 9.78 percent in August, higher than 9.22 percent recorded earlier, thus taking the rate to its highest in over a year.
Pranab on credit rating downgrade
Indian Finance Minister Pranab Mukherjee, on August 6, called the situation arising from the downgrading in the US top-tier credit rating as grave. Expressing concern at the situation in New Delhi, Mukherjee said the government needed time to study the impliacations of the downgrading to arrive at a conclusion.
Indian Finance Minister Pranab Mukherjee, on February 25, tried to soothe nerves over spiralling crude prices following the Libya crisis, saying the government was keeping a vigil on the situation. He added that markets should not get unnecessarily agitated over the issue.
