New Delhi, Aug 4 (ANI): Replying to the debate over rising prices in rising prices, Union Finance Minister Pranab Mukherjee on Thursday said that there was no inherent contradiction between growth and inflation and the government was trying to achieve growth with a moderate rate of inflation.
He also said that there was a divergence of view among political parties over the issue of tackling rising prices and hoped that Parliament would arrive at a consensus after the debate
"What is the need for discussion if we cannot agree on a decision after discussion?" he asked.
He said in the 1980s, India's Gross Domestic Product (GDP) growth averaged slightly above five percent, and around six percent in the 1990s, which were relatively low compared with the growth of around 8-8.5 percent now.
"Was inflation low at that time? No!" several steps were needed to tame inflation and that the house-both the members of the treasury and opposition-must collectively ensure these measures are allowed to be taken," he added.
On Wednesday, Bharatiya Janata Party (BJP) leader Yashwant Sinha, who led the debate in Parliament over the price rise from opposition's side, urged the government to overcome its inertia and introduce a comprehensive food pricing and management policy.
He said his party had urged the government to overcome its inertia and provide relief to the common man.
"This would serve as an antidote for the growing economic imbalances in the country," he added
Highlighting corruption as one of the reasons for the price rise, Singh also said that the government was managing the prices very poorly.
Claiming that the country's household budget goes up to Rs six lakh crore, he said inflation is the worst form of taxation for the common man.
"The Opposition will unite against the government over failing the common man. The worst form of taxation on the poor is prices," he added. (ANI)
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