Govt concerned over rising inflation: Pranab

Rise in food inflation to double digit is a matter of great concern and government is taking steps to reduce it, Union Finance Minister Pranab Mukherjee said here today.

"Food inflation of 10.6% is a matter of great concern," Mukherjee told reporters on the sidelines of a review meeting with revenue officials.

"Though food inflation in January-February 2010 was as high as 20% which had come down in last 6-7 months to 9%. Now it moved up higher and this is unacceptable to us and we have to see that it goes down," he said.

Mukherjee said to remove supply constraints some measures had been taken and from the demand side by adjusting crucial rates Reserve Bank of India had taken appropiate step.

"I hope this will help bring it [inflation] down," Mukherjee said.

Speaking about revenue collection, Mukherjee said there was some slowdown, but officials were working hard to overcome it.

"There is no revision of targets," he added.