Inflation impact: Cong appeals govt

'Control price hike even if growth rate is hurt'

"It (increase in inflation) is most unfortunate. We appeal to the Government to take appropriate fiscal and monetary measures, even if they hurt growth," AICC Media Department Chairman M Veerappa Moily told PTI.     

"Certain segments of growth may be harmed and there could be a slump in employment generation and the steps could harm the housing programme. But we now require some rigorous measures," he said.     

Moily attributed the spurt in inflation to the oil price hike, saying it has had an impact across the board.     

He, however, said tax cuts made by the state governments have not been reflected in the calculation of inflation rate.    
 
The senior Congress leader expressed the hope that the good harvest of wheat and rice would improve the supply of commodities and help in bringing down the inflation rate.     

"A number of measures have already been taken and it will take around four to six months for their impact to be felt. There can be no immediate impact," he said.     

Moily also said the state governments need to take steps like cracking down on black-marketeers to bring inflation under control.