Centre will take ‘credible steps’ to rein in inflation: PM

NEW DELHI: Expressing concern over rising prices, Prime Minister Manmohan Singh has said that all credible steps to control inflation will be taken by the government, reports Our Bureau.

The PM also said the government would adopt “all reasonable measures” to accelerate the tempo of agricultural production and strengthen the public distribution system.

Speaking at the release of a report on the UPA government’s performance marking its third anniversary, Mr Singh said the growth processes unleashed last year had put some pressure on prices. “

We have been faced with galloping demand for many products. This has resulted in inflation becoming a cause for concern, particularly in the case of some essential commodities. This has been compounded by a shortfall in production of these commodities,” he said.

Mr Singh said employment generation, poverty reduction and human development continued to be the main objectives of his government.

In the proposed National Urban Housing and Habitat Policy (2007), the government included a provision to earmark at all levels, including the new housing colonies, a portion of land at affordable rates for housing for the economically weaker section (EWS) and low income group (LIG). This could be 10-15% land area to accommodate 20-25% dwelling units for EWS and LIG.