The Central government has failed to control spiralling inflation, Member of Parliament V. Vijaya Sai Reddy said in the Rajya Sabha on Tuesday, flagging concerns over the country’s rising fiscal deficit.
Speaking during a short-term discussion on inflation in the Rajya Sabha, Mr. Vijaya Sai Reddy said that both the Centre and Reserve Bank of India had failed to control the prices of essential commodities. It is to be noted that the RBI had indicated that fiscal deficit would be over 6 per cent in the coming financial year.
“It is not correct to base the fiscal deficit on the basis of wholesale price index. It should be based on consumption index. The steep hike in essential prices has affected the common man and it is up to the Centre to provide social and economic security for the people,” Mr. Vijaya Sai Reddy said.
