New Delhi: Finance Minister P Chidambaram today (May 28, 2004) said the Government would make every effort to keep inflation low, even though there is no clear-cut emphasis on the price level in the Common Minimum Programme (CMP).

"We will make every effort to keep inflation low. Even the RBI (Reserve Bank of India) Governor has stated that," Chidambaram said, allaying fears of a burgeoning price level in the wake of rising international oil prices.

"Some economic principles need not be stated again and again. The whole world accepted that every country must keep inflation at a low level. That's given. That's the premise of every development strategy," he said.

The CMP, released yesterday (May 27, 2004) by Prime Minister Manmohan Singh had stated that the Congress-led coalition Government will check the prices of essential commodities but was silent on containing the overall inflation.

Inflation based on wholesale price index rose to 4.67 per cent in the week ended May 15 after showing signs of a decline in previous few weeks.