'Understand one thing, if you want immediately and magically that things should become cheap, it's not possible. It's a long-term policy.' 'Inflation is linked to the storage system and with the production system. Whenever production rises, prices go lower. So if we store when the prices are low and release them when prices rise, prices can be maintained.' 'The problem is that in our country fruits and vegetables worth Rs 110,000 crore go to waste as they rot. And grains worth Rs 85,000 crore rot. So the storage system is another big reason for inflation.' Union Transport Minister Nitin Gadkari in an exclusive interaction with Sheela Bhatt/Rediff.com
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Those who know Shiv Shankar Menon will vouch that he did lots of things, substantial in the immediate neighbourhood and widespread in South Asia, but without making things public. Twenty per cent of Menon's job was visible, while 80 per cemt of his job was not known to the public, says Sheela Bhatt/Rediff.com
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We present Prime Minister Manmohan Singh's full speech as he addressed the country on the occasion of 66th Independence Day, from Red Fort, Delhi.
"The poor will not suffer disproportionately due to bouts of sharp inflation, and the middle class will not see its savings eroded," Raghuram Rajan said.
