Finance Minister Arun Jaitely today said the government is committed to take measures, which will positively impact the GDP and result in higher growth than expected. In a Facebook post, Mr. Jaitley expressed hope that the rising inflation will also come down. He said that the year on year Wholesale Price Index inflation for the month of March has moved upto 6.01 percent as compared to 4.58 percent in the corresponding period last year. Mr. Jaitely said the increase in WPI is primarily on account of higher inflation in food articles, fuel and power costs and the centre is committed to ease supply side constraints.

The Minister added that the rise in prices of food articles can also be attributed to withholding of stocks on account of apprehension of a weak monsoon and state governments should take effective steps to discourage speculative hoarding. He said the government is watching the movement of rupee closely and the slight instability of rupee is essentially because of Iraq oil shocks and global fear of oil price rise.