"Containing inflation is an obvious priority for the government," Naidu told a news briefing after Prime Minister Narendra Modi chaired a cabinet meeting.
Modi, who was sworn in on Monday after a landslide election victory, has completed his government team.
Thursday's cabinet meeting scheduled an opening session of the lower house of parliament for June 4-11.
Rajan calls on Jaitley; discusses inflation, economy
Jaitley promises to contain inflation, promote growth
First session of 16th Lok Sabha from June 4 to 11
'Best India can hope from Pakistan is some version of status quo'
7 of Modi's Cabinet ministers are not even graduates