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Finance Minister P. Chidambaram today said that the steps that the Government has taken and will take will moderate inflation.
He said that with stern measures, the Government will be able to bring down the Current Account Deficit (CAD) to below last year’s level.
He said that some more reforms decision are on the anvil.
The Minister said that the RBI measures are for the short-term and should not be concluded as precursor or prelude to hard policy rates.
He said that he was hopeful of passing the Insurance Bill in Parliament.
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