India committed to price stability, says PM

New Delhi, Jan 15 (PTI) Amidst inflation reaching
worrying levels, Indian Prime Minister Manmohan Singh on
Friday said that the country is committed to ensuring price
stability as it moves on the growth path of 9-10 per cent.

"...as India moves forward towards a growth path of
9-10 per cent per annum, it needs to commit itself to
reasonable price stability," Singh said while releasing a
compendium of key speeches of Reserve Bank of India (RBI)
Governors here.
Singh said this in the presence of RBI Governor D
Subbarao who is due to unveil the quarterly review of monetary
policy on January 29.
In the wake of wholesale price-based inflation
escalating to 7.31 per cent for the month-ended December and
food prices increasing by over 17 per cent, it is expected
that RBI will signal tightening of money supply.
The Prime Minister would also be meeting the chief
ministers later this month to review the price situation,
particularly with regard to essential commodities like pulses,
and sugar.
Singh said the growth path also commits itself to
inclusion of the poor in the financial and credit system of
the country.
The Prime Minister said he wants financial policies
which pay attention "to the needs of the poorer section of our
community." MORE PTI DP
RBT


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