Yesterday, Finance Minister Pranab Mukharjee said, government has taken necessary steps to tame inflation, but it does not have Aladdin's Magical lamp to resolve things immediately.
- I remember him saying the same thing in early January 2011
- Last time, he indicated, the future course of action would be taken Reserve Bank
- RBI in line with general perception & growth pressure raised benchmark rates to moderate 25 basis points. And this moderate hike has not helped so far to bring down the inflation (read WPI and specifically essential commodity)
- Somehow, I think, RBI should take a preemptive steps in near future & tweak benchmark policy rates
- Hoarding of food commodity is raging off-and-on with different items, it started with 'daal', onion, now edible oils.
- The Indian Economy at large will have implied effect of radical changes happening in political sphere of Egypt
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