We appeal to the government to take appropriate fiscal and monetary measures, even if they hurt growth," AICC Media Department Chairman M Veerappa Moily said.
"Certain segments of growth may be harmed and there could be a slump in employment generation. The steps could also harm the housing programme. But we now require some rigorous measures," he said.
Moily attributed the spurt in inflation to the oil price hike, saying it has had an impact across the board. He, however, said the tax cuts made by the state governments had not been reflected in the calculation of inflation rate.
He hoped the good harvest of wheat and rice would improve the supply of commodities and help in bringing down the inflation rate. "A number of measures have already been taken and it will take around four to six months for their impact to be felt. There can be no immediate impact," he said.
Two elements of the Left Front, the Communist Party of India (CPI) and the Revolutionary Socialist party (RSP), sought Finance Minister P Chidambaram's resignation for failing to control prices, but the CPI(M)'s stance was that it was not the policies of individuals but the government that were responsible for things coming to such a pass.
The BJP blamed Prime Minister Manmohan Singh and Finance Minister P Chidambaram for the situation and suggested that they quit. "BJP, on behalf of the nation, requests the PM and the FM to spare the country of their illustrious service," BJP spokesperson Rajiv Pratap Rudy said. Noting that the inflation had touched a 13-year high of 11.05 per cent, Rudy said: "This team of economic managers (comprising Singh and Chidambaram) has broken its own records set during the Narasimha Rao government (between 1991 and 1996)."