Montek meets Sonia, PM; reviews price scenario

Montek Singh Ahluwalia separately met Prime Minster Manmohan Singh and UPA Chairperson Sonia Gandhi.

Planning Commission Deputy Chairman Montek Singh Ahluwalia on Wednesday separately met Prime Minster Manmohan Singh and UPA Chairperson Sonia Gandhi and is believed to have reviewed the current price situation in the country.

Ahluwalia met the Prime Minister twice during the day and Gandhi before the crucial UPA-Left coordination committee meeting on the Indo-US civil nuclear deal, sources said.

The meetings come a day after the Reserve Bank in a bid to tame inflation hiked short-term lending rate (repo) and mandatory cash reserve for banks (CRR) by 50 basis points, a move which is expected to raise the interest rates on housing and consumer loans.

Story continues below this ad

Inflation has touched 13-year high to 11.05 per cent during the first week of June, as the Government’s decision to increase petrol, diesel and LPG prices by Rs 5 a litre, Rs 3 a litre and Rs 50 a cylinder, respectively, were reflected in the latest data released on last Friday.

Earlier last week, both the Congress President and the Prime Minister had reviewed the price situation with Finance Minister P Chidambaram. Singh also took stock of situation with RBI Governor Y V Reddy.

Congress has asked the government to fight inflation even by sacrificing economic growth, which has averaged close to nine per cent in the last three years of the UPA regime.

Rising inflation, it is feared, will dampen electoral prospects of the Congress, which recently lost polls in Karnataka to BJP.

Mallojula Venugopal Rao alias Sonu and Thippiri Tirupathi alias Devuji

Spate of surrenders later, Maoists get new public liaison who vouches for ‘armed struggle’

India59 min ago

The banned Communist Party of India (Maoist) has found a new public voice after its ideological head Mallojula Venugopal Rao alias Sonu surrendered along with 60 cadres in Maharashtra earlier this month. According to Telangana intelligence sources, Thippiri Tirupathi alias Devuji, believed to be the current General Secretary of the party, has doubled up as its public face under the pseudonym Abhay

View all shorts

Live Blog

PHOTOS