India's Chief Statistician TCA Anant Friday supported the rise in price of petrol saying it would help in checking inflation in long-term.
"Higher petrol price will lead to lower inflationary regime with lower demand. But, it is a long term mechanism," Anant told the the Merchants' Chamber of Commerce.
Though, rising petrol price would lead to higher inflation in the short term, but since overall demand would diminish in the longer run, it would help in addressing inflationary pressure, he said.
He said the government should narrow the gap between wholesale and retail price of food products.
Anant suggested that allowing FDI in retail would in turn will help in increasing competitive pressure in food prices. Read More
for detailed price charts.
0 comments:
Post a Comment