Indian PM Manmohan Singh realizes commodity hyperinflation a year after it happened – a sad event for Indian economy
Ratan Sen
Apr. 10, 2008

It was interesting when PM Manmohan Singh says steep increase in prices of food and essential commodities was making inflation management a difficult task and could "hurt" macroeconomic stability.

"Sharply rising food prices can slow down poverty alleviation, impede economic growth and retard employment generation," the prime minister said at a global conference on agro industries.

"A steep rise in food prices will make inflation control more difficult and can hurt the cause of macroeconomic stability. The constituency for economic reform, so necessary to stimulate economic growth, would also diminish," he warned.

It is sad that the economic academician turned into politician PM Manmohan Singh failed to realize the global inflation for more than a year and took no action to check its impact on Indian economy.

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