NCP lashes out at Jaitley for his helplessness to fight inflation

Nationalist Congress Party (NCP) leader Majid Memon here today lashed out at Finance Minister Arun Jailtley for his inability to curb the rising inflation.

Taunting over Bharatiya Janata party's (BJP's) election slogan of good days, Memon said that the government is not able to stand by its slogan.

"When Finance minister himself expresses helplessness in fighting inflation then it's a blow to the hopes of people who voted for them," said Memon.

"The people had lot hopes from the government that it will look into the matter of inflation," he added.

Meanwhile, Congress leader Rashid Alvi also criticised the steps taken by the government and said that such policies will increase inflation instead of reducing it.

"High fiscal deficit is a big challenge and inflation is much bigger, but the steps which the current BJP government has taken will lead to increase in inflation and also increase the burden on common man. Within just one month of its formation it has increased gas, petrol, diesel and rail fares. Inflation can't be controlled like this. These steps will take the nation in a wrong direction," said Alvi.

India's economy grew 4.7 percent in 2013/14, marking the second straight year of sub-5 percent growth, the longest slowdown in more than a quarter of a century.

Petrol and diesel prices were hiked on Monday by Rs 1.69 and Rs. 0.50 per litre respectively while onion prices have continued to surge upwards.

Finance Minister Arun Jaitley had called upon state governments to check hoarding, while Prime Minister Modi had met ministers and senior bureaucrats to discuss strategies to control inflation, which is at a five month high.

The government had earlier announced increase in rail passenger fares by 14.2 percent and freight rates by 6.5 percent, which has led to an outcry by the opposition parties.