Wednesday, July 18, 2007

India Needs `Tight' Monetary Policy to Curb Price Rises, Chidambaram Says

(Bloomberg) -- India will maintain a ``fairly
tight'' monetary policy to curb inflation that may be stoked by
rising crude oil prices and consumer demand, Finance Minister
Palaniappan Chidambaram said.

``We have to do our best to keep inflation down in a world
where fuel prices are flaring up, commodity prices are
increasing and demand remains high in China and India,''
Chidambaram, 61, said in an interview yesterday in New Delhi.


Read more at Bloomberg Emerging Markets News

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