Planning Commission deputy chairman Montek Singh Ahluwalia said that India is not the only country to be affected by the inflation. All countries are facing economic problems due inflation. He emphasized that world is in middle of a dramatic change in the world price distribution. Hence Indians should get used to the high energy prices.
India recorded a deficit of Rs 104 core in its current (January-March) account in the country’s balance of payments during the fourth quarter of a fiscal due to the rise in oil prices. India's current account deficit in 2007-08 rose by 77% to touch $17.4 billion, accounting for 1.5% of GDP in 2007-08. The oil import bill increased by 34.6% to $76.9 billion in 2007-08 due to surge in crude price. However, non-oil imports recorded a growth of 30.6% only.
Global rating agency Standard & Poor (S&P), said on Thursday that Surging inflation, fuelled by energy and commodity prices coupled with interest rate hikes by the Reserve Bank of India (RB
New Delhi, June 27: The unabated hike in food and oil prices has accelerated this week’s inflation from 11.05 per cent to 11.42 per cent, which is again a 13-year high.
July 4: Despite government’s measures to control inflation, w
India is not the only country to be affected by the inflation. All countries are facing economic problems due inflation. He emphasized that world is in middle of a dramatic change in the world price distribution. Hence Indians should get used to the high energy prices.
The inflation climbed to a new 13-year high of 11.42 per cent mainly due to rise in 
