Left-UNPA to launch major protests against inflation

New Delhi: Left parties and the United National Progressive Alliance will launch a weeklong nationwide protest against price rise from April 16.

Addressing a joint media conference, Left and UNPA leaders said the United Progressive Alliance Government should take immediate measures to control prices.

They are demanding strengthening the public distribution system, a ban on Futures trading in 25 agricultural commodities, a cut on customs and excise duties on oil and stringent action against hoarding of essential commodities.

Left allies say the Government is doing too little too late to tackle inflation in the country.

The CPI too has said that the measures adopted by the Manmohan Singh Government are just not enough. The UPA's Left allies have asked the Government to adopt with immediate effect, medium-term and long-term strategies to curb inflation.

Inflation has hit 6.68 per cent, the highest in a year.

Prices of vegetables are up 2.5 per cent, whereas prices of manufactured products are up 0.9 per cent.

After remaining close to 4 per cent in recent months, inflation has begun moving upwards, and surged by 0.76 per cent during the week ended March 15.

It was 5.92 per cent in the previous week and 6.56 per cent in the corresponding period last year.

In line with the global trends, metal prices continued to be more expensive. While joist and rolls rose by a whopping 34 per cent, heavy light structural were up by 32 per cent, bright bars by 24 per cent, basic pig iron and foundry pig iron by 17 per cent each and steel sheets, plates and strips by 13 per cent each.

Food items, like vegetables, rape seeds and mustard oil also turned costlier.

Analysts said the announcement of Sixth Pay Commission recommendations, and provisions for enhanced expenditure on social sectors in the Budget 2008-09 coupled with rising crude oil prices have also raised expectations about high inflation.