Would you accept that inflation has become the Achilles' heel of this government?
Inflation is a phenomenon that affects a large section of the country. So, a high level of inflation is not conducive to economic growth and prosperity of the country.
Has the government failed to tackle it?
Earlier, as governor of the Reserve Bank of India, I had taken a very strong position on that and I have always regarded that the primary objective of the central bank is to tame inflation. In the last two years, we have been confronted with a situation in which the strong action to contain inflation was also viewed by some as coming in the way of faster economic growth. The first year of inflation was really food inflation. That is a totally different kind. Come the second year, the food inflation got generalised. In addition to that, there was some food inflation because of the rise in the price of vegetables. Now, any strong action on the monetary authority was viewed by some people as coming in the way of faster economic growth.
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