Increased oil prices to impact inflation

Refering to the slowdown in industry, Finance Minister P Chidambaram said "We will have to take corrective measures and we will take those measures ( to push manufacturing growth).

Chidambaram also said that the economy is likely to grow by 8. 5 per cent  in 2008-09. On surging global oil prices he said any increase in administerd oil prices will have some impact on inflation in short term. Referring to the 8.1 per cent inflation for the latest week he said, it is a worrisome inflation rate.