Inflation will be tamed in coming months: PM

Noting that in the last few weeks, there have been concerns about rising inflation, Singh told a meeting in Bangalore that there was an international dimension to the trend.

“Oil prices, which were around USD 35 a barrel in 2004, have now touched USD 120 per barrel. International foodgrain and commodity prices have risen substantially”, he said at the meeting organised by the Karnataka Pradesh Congress Committee.

The three-phased polling for the assembly elections begins in the state on May 10.

The Prime Minister said the UPA government has made strenous efforts to shield the poor and the vulnerable from the effect of rising prices. Kerosene and LPG prices have been hardly touched in the last four years and even petrol and diesel price rises have been marginal, he said.

The government was bearing a huge cost to shield the poor, Singh said. “Foodgrain issue prices for BPL rice and wheat have not been touched while wheat and rice support prices have been doubled for the benefit of our farmers. This year, we hope to have a bumper crop and procurement has been excellent,” he added.