Blaming the surge in inflation rate to the continuing rise in global commodity and foodgrain prices, Finance Minister P Chidambaram on Monday said the government will make every effort to contain price rise and ensure that it did not affect the poor.
"We will make every effort to contain prices, especially for the weaker section," he said while winding up discussions on Budget in Rajya Sabha.
Stating that fair prices to farmers would mean higher prices for consumers, he said the interests of the poor will be protected though it may result in higher subsidy outgo.
Pointing out that the government has already cut excise and customs duties in the Budget to contain prices, the minister said, "we will take fiscal steps...we will urge Reserve Bank of India to take monetary steps. Its dharma is price stability."
He further added that the government would