New Delhi: Finance Minister P Chidambaram on Thursday said that rising inflation is a larger social issue and it can be tackled in the long run through increased supply of farm products.
"While fiscal steps will have some immediate impact, monetary side will take some time to transmit into the system. Supply side is indeed a durable answer to inflation. More wheat, more rice, more sugar, more pulses, more oil seeds is durable side," PTI quoted Chidambaram as saying.
Speaking at a post-Budget interaction with industry chamber Assocham, he said that inflation must be and will be moderated and consumer price-based inflation is much higher at around 12 per cent.
“Like augmenting supply of inputs is durable answer to industry's growth, raising supply of these is durable answer to agriculture,” he said.
Betting on high growth next fiscal as well, he said supply of inputs to industry would indeed be more with rising growth.
He also said the task before him in his earlier stint, as the Finance Minister was to pull India out from her cocoon.
“Now India and her corporates are very much on the global map. You are not only talked about, but feared if you don't take over their company," Chidambaram added.
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