Prime Minister Dr Manmohan Singh on Friday, 15 August 2008, expressed concern at the recent spurt in prices while addressing the nation from the ramparts of the Red Fort on Independence Day. Dr. Singh said tackling inflation remained a major challenge.

He said he had sought the cooperation of states to tackle inflation. I have urged all Chief Ministers to improve and strengthen the Public Distribution System to ensure availability of essential commodities to the common man at reasonable prices, Dr. Singh said.

At the same time, he cautioned that the steps being put in place to rein in inflation should in no way affect economic growth which had been maintained at 9% over the last four years. Our economy must grow at the rate of at least 10% every year to get rid of poverty and generate employment for all, he said.

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