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FM expresses concern over inflation

Kandi (Murshidabad): Finance Minister Pranab Mukherjee today expressed concern over spiralling inflation, the country`s increasing current account deficit and trade imbalances.

"These are the issues which raise concern. Inflationary pressures are there and non-oil imports are rising," he told reporters on the sidelines of an event here today.

He said that imports of capital goods, raw materials and intermediaries are rising, widening the trade gap.

Though financing the trade gap was now manageable, he cautioned that if the situation continued to be like this, the scenario would be uncertain.

The Finance Minister said the import bill would rise further due to high oil prices.

"I do not know to what extent we will be able to control import of petroleum products," he said.

Referring to SBI`s proposed rights issue, he said that a decision on the government subscribing to the issue would be taken at the right time.

Mukherjee today inaugurated the 5,000th rural branch of the SBI at Sagardighi and the 13,333rd branch of the same bank here at Kandi, in Murshidaband district.

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