Prime Minister Narendra Modi.
Inflation cannot be controlled in a day and the situation on the ground has improved: This was what Prime Minister Narendra Modi told a group of parliamentarians from four southern states when they met him yesterday. It was also the first time Mr Modi spoke out on the subject that has lately brought the government in the firing line.
Spiralling inflation has been one of the issues that contributed hugely to the NDA's win the recently concluded general elections. But the BJP, which had been a vocal critic of the UPA's economic policies, has been criticised lately for failing to take concrete steps to control inflation and rising food prices.
Mr Modi, in fact, discussed the subject after some of the visiting parliamentarians expressed their concern, pointing out that the people have been unhappy about the new government's failure to curb the rising food prices.
"Tell the people that the inflation is not as bad as it was three months ago," one of the MPs told NDTV, quoting the Prime Minister. The government has taken a lot of steps and prices have stabilised, the Prime Minister reportedly said.
In June, after the wholesale price inflation hit a five-month high, the new government had imposed export restrictions on certain farm commodities and ordered a crackdown on hoarding. But the steps had failed to bring the expected relief. The weak monsoon has only made matters worse.
Economists who had backed Modi to put Asia's third largest economy back on track are uneasy about the government's failure to outline a proper inflation strategy.