Monday, 14 July 2008

Desperate measures!

According to Pradeep S Mehta, Secretary General, CI India-based member CUTS, the country’s authorities are short of long term solutions to the runaway rises in consumer prices.

Writing in the Economic Times of India, Mr Metha argues that the recent price rises of food items, manufacturing goods, fuel, cement and steel have contributed around 75% of the total rise in the inflation rate in India.

Whilst short-term solutions, such as restricting exports and reducing import duties, have been put in place, there are concerns for the long-term investment environment in the country.

The economic outlook for consumers, Mehta fears, looks grim.

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