Finance Minister P Chidambaram is wrong again - Rising inflation due to excessive liquidity and foreign influx of carry trade and not high growth
Special correspondent
Feb. 2, 2007

India's Finance Minister says a recent spike in inflation is due to high growth of the Indian economy. The Indian government is taking steps to control the rise in prices, a government statement quoting Finance Minister P. Chidambaram said on Friday.

Finance Minister P. Chidambaram is wrong again - Rising inflation due to excessive liquidity and foreign influx of carry trade and not high growth. The international financial institutions are beginning the borrow and spend culture in India. In addition, excessive liquidity and foreign influx of carry trade are the root cause of inflation.

But Indian Government is looking somewhere else. "Finance Minister P. Chidambaram stated that the present inflation is the result of high growth and expressed confidence that the government will gain mastery in dealing with it," the statement said.

Finance Minister P Chidambaram is wrong again - Rising inflation due to excessive liquidity and foreign influx of carry trade and not high growth
Special correspondent
The international financial institutions are bingeing in the borrow and spend culture in India. In addition, excessive liquidity and foreign influx of carry trade are the root cause of inflation.
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