Advani on inflation: Balloon of so-called Dream Budget has burst

Criticising the Congress-led UPA Government for piralling inflation that has touched a three year high mark, Bharatiya Janata arty Prime Ministerial candidate L K Advani on Monday said that the balloon of he so-called Dream Budget has burst.

New Delhi, Apr 7 : Criticising the Congress-led UPA Government for piralling inflation that has touched a three year high mark, Bharatiya Janata arty Prime Ministerial candidate L K Advani on Monday said that the balloon of he so-called Dream Budget has burst.

"The balloon of the so-called Dream Budget has burst. The government's own igures show that the inflation rate has risen to 7 per cent," said Advani.

He further said that this is how the Congress Party has kept its promises of aring for the aam aadmi (common man), in whose name it sought the mandate n 2004.

"As far as the common man is concerned, price rise means daily loot from his eagre family budget," he added.

Advani said that the UPA Government's failure to curb inflation reminded him that henever the Congress has come to power at the Centre, price rise and orruption have also come along.

He also warned the Congress that the people would make the party pay a heavy rice whenever the elections are held.

In order to check inflation, the Cabinet Committee on Prices (CCP) chaired by rime Minister Manmohan Singh had decided to abolish import duty on all crude dible oils, including palm and soya, and banned the export of non-basmati rice nd pulses.

The Central Government also decided to raise the minimum export price of asmati rice to 1,200 dollars per ton from 1100 dollars, to balance the demand " upply in the domestic market and to cut import duty on butter and clarified butter ghee) from 40 per cent to 30 per cent, besides, the 15 per cent import duty on aize was abolished, applicable on import of up to five lakh tons.

The CCP also advised states to impose limits on stocks of commodities under he Essential Commodities Act, besides asking steel producers not to raise rices.

The study done by a business conglomerate reveals that the Central overnment's efforts to contain inflation will come start-yielding results by August hen inflation is likely to fall at four per cent.

Experts believe that after all possible measures taken by the government, now, veryone is waiting for Reserve Bank of India's (RBI) annual credit policy that will e revealed on April 29.

ANI