The government on Thursday attributed high prices to external factors. Replying to the debate on Price rise in the Lok Sabha the finance minister Pranab Mukherjee said all emerging economies like China, Sri Lanka are facing this problem. He said that government is working to moderate food inflation to 5 per cent from over 8 per cent now without sacrificing growth. He dismissed the opposition's charge that inflation is due to high growth rate. He gave details of various steps the government had taken to rein in inflation. Pointing out that the food inflation has come down from 22 per cent in February, 2010 to 8.3 per cent in July this year. Mr. Mukherjee said the comfortable level of food inflation is five per cent but six to seven per cent can be tolerated. The Finance Minister elaborated that food inflation is the result of mismatch between demand and supply. Mr Mukherjee said that India needs to create more investment opportunities and generate more employment and this can be done with active cooperation from the Opposition. The Finance Minister said that the hike in the crude oil prices is a global phenomenon and the government has no control over it. He however said that the recent hike in the prices of diesel and cooking gas is marginal keeping in view the global prices. Responding to the demand for removing subsidy on diesel used by passenger cars, he said, government can accept the suggestion and try to work out what mechanism could be found out so that passenger cars owners are not subsidised. Dismissing the allegations that people are dying with hunger, he said government has enough food stocks to cater to the needs of the vulnerable sections. He said the prices of food items have increased as the minimum support price of food grains has been substantially increased. The BJP leader Yashwant Sinha who initiated the debate expressed his disappointment as the finance ministers did not announce any measures to curb the rising prices. Later the House adopted the resolution which expresses concern on the price rise and its burden on the common man. The resolution calls upon the government to take immediate effective steps to check inflation for giving relief to common man.Earlier, the House rejected the amendment moved by Gurudas Dasgupta of CPI for division. The members of BSP, BJD, AIADMK, Left and SP walked out of the House when the voting took place.AIR Parliamentary Correspondent reports that Opposition BJP and members of other parties in the debate urged the Government that if growth is at the cost of inflation, such growth is not required. The Ruling members on the other hand highlighted the measures and achievements on the price front while strongly defending the Government. They maintained agriculture recorded an impressive growth of 6.6 percent and whole sale price index has reduced to 9.44 percent. Food Inflation has come down to 8.4 percent from 20 percent in February 2010. Apart from this Government has provided fifty lakh tonnes of food grains to people living above poverty line.