Ready to take "calibrated" risks, Finance Minister P Chidambaram today said the Government will work with RBI to control both inflation and interest rates to stimulate investment and ease burden on consumers. Underscoring price stability, more importantly for the poor, he said the government will use its foodgrains stocks to moderate prices and enhance imports of essential commodities. In his first media briefing after taking charge of the Finance Ministry, Chidambaram said fiscal and monetary policies must point to the same direction to moderate inflation. "The government will work with the Reserve Bank of India to ensure that inflation is moderated in the medium term.........
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