 The RBI should be asked to fulfil an inflationary target as its sole mandate. 
 The fear that the recent rise in the inflation rate will scupper their chances of re-election has led the UPA government to blame the usual suspects: hoarders, monopolists, and of course, foreigners.

<tr><td><p class='TableClas'></p><P class='TableClas'> <DIV CLASS=rightDiv><script language="JavaScript">
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		<script type="text/javascript" src="http://pagead2.googlesyndication.com/pagead/show_ads.js">
		</script> </DIV><p class='TableClas'>The fear that the recent rise in the inflation rate will scupper their chances of re-election has led the UPA government to blame the usual suspects: hoarders, monopolists, and of course, foreigners. So bring back discredited policies: raid hoarders, torment speculators and ban export of agricultural products. But raiding merchant's stocks and banning forward training merely short-circuits the inter-temporal smoothing mechanism 

Deepak Lal: The inflation scare

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