"More administrative steps will be taken as and when they become necessary to check inflation, Chidambaram said while pointing out that government was trying to persuade cement manufacturers to cut prices. Referring to inflation inching up to 7.61 per cent from 7.57 per cent, Chidambaram said the movement "in our assessment means that it is stable and not statistically significant". The government, he said, has already taken various administrative steps to check inflation like banning futures trade in four commodities and persuading steel producers to voluntarily cut prices.
The government on Monday extended ban on futures trading to four more agriculture commodities