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BJP lauds government's efforts to bring down inflation

Sharma said price rise is a major issue and the BJP-led government was taking a number of steps to bring prices down.

Press Trust Of India

Updated:October 14, 2014, 8:36 PM IST
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BJP lauds government's efforts to bring down inflation
Sharma said price rise is a major issue and the BJP-led government was taking a number of steps to bring prices down.

New Delhi: BJP on Tuesday lauded the government's efforts to rein in inflation and exuded confidence that prices will further come down in the near future.

The party said the Narendra Modi-led government was committed to bringing down prices and was taking the issue seriously which has been troubling the common man for the last many years.

"BJP appreciates the government's steps to rein in inflation. After stabilising the prices, we are hopeful that prices will come down further in coming times going by the government's commitment in this regard," BJP national secretary Shrikant Sharma said.

He also hoped that with international crude oil prices coming down, the cost of petroleum products in the country, including petrol and diesel, will come down further.

Sharma said price rise is a major issue and the BJP-led government was taking a number of steps to bring prices down.

The BJP leader listed a number of measures taken by the government in the last few months to check rising inflation, including keeping a check on hoarding and acting against hoarders of essential commodities, besides putting curbs on exports and pumping in of essential commodities in the market from stored stocks.

The softening of food prices pulled down the wholesale price inflation to near-five year low of 2.38 per cent, creating headroom for the Reserve Bank to cut interest rate to boost demand and push industrial growth.

The Wholesale Price Index (WPI) based inflation was at 3.74 per cent in August and 7.05 per cent in September 2013, as per data released by the government, with food inflation falling to a nearly 33-month low of 3.52 per cent.

Diesel and petrol prices are likely to come down in the wake of sliding global crude prices which is expected to further ease inflationary pressure.

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