No tax worse than inflation: says Chidambaram

New Delhi: Concerned over high inflation, Union home minister P Chidamabaram today expressed doubt on whether the government had all instruments to check price rise, reports PTI.

"Inflation is high, food inflation is very high... we are not sure whether we have all the tools in hands to control food inflation," Mr Chidambaram said at a function organised by Skoch Consultancy.

Mr Chidambaram, who served as finance minister before moving to the home ministry in the previous UPA regime, said while there is a duty to maintain price stability, some administrative prices have to be corrected.

His remark came in the backdrop of an Empowered Group of Ministers (EGoM) headed by finance minister Pranab Mukherjee postponing a meeting to hike fuel prices indefinitely on oil minister Murli Deora's insistence.

Mr Chidambaram said there is no tax worse than inflation.

"If you have high income that is eaten by inflation," he added.

Food inflation rose to a 10-week high of 14.44% for the week ended 18th December 18 on the back of a rise in onion prices by almost 40% on an annual basis, touching Rs75-Rs80 per kg in the retail market.

Overall inflation was 7.48% for the month of November 2010.

The price rise is also quite steep in the case of tomatoes and green vegetables, among other agri-commodities.


M&M launches Thar CRDe in Kerala market

Mahindra & Mahindra (M&M) Ltd, market leader in utility vehicles has introduced the Thar CRDe, 4x4 off-roader in the Kerala market.

It is priced at Rs6.11 lakh for BS IV variant (ex-showroom price) Kochi.

Kerala has been the largest market for such vehicles and the company was totally geared to meet any requirements, Behram Dhabher, general manager (vehicle development) said.

The Thar aims to play a significant role in shaping the lifestyle vehicle segment both in urban and rural India.

Consumers are looking for a different lifestyle as they seek adventure and a fun experience which the vehicle will offer, he said.

The Thar is a manual 4x4 machine coupled with a powerful CRDe 105 BHP engine and driven by wire technology, which is capable of providing it variable speeds and acceleration.

On Wednesday, M&M ended 1.17% down at Rs771.05 on the Bombay Stock Exchange, while the benchmark Sensex declined 0.96% to 20,301 points.


Tata Motors launches Tata Prima Construck range

Tata Motors Ltd said it has launched Tata Prima Construck range in India. The range comprises Tata Prima 3128.K and Tata Prima 2528.K. The Prima Construck range will be available in the price range of Rs33 lakh-Rs40 lakh (ex-showroom Delhi).

Tata Prima 3128.K tipper has been developed for road construction and irrigation projects. Powered by 270 HP engine, Tata Prima 3128.K has a wider body for enhanced capacity. The model is tailor made for smooth movement of earthwork and quarry material. To ensure optimum vehicle usage, Tata Prima 3128.K is equipped with a data logger that helps measure vehicle performance and driving practices along several parameters on a daily basis and the increased power ensures faster trips and higher profitability.

Tata Prima 2528.K tipper has been designed for off-road deep mining applications. Equipped with strong aggregates like robust chassis frame, suspension and 1200x24 mining tyres and powered by 270 HP engine, the Tata Prima 2528.K can overcome any terrain.

Tata Motors will begin distribution of the Tata Prima Construck range in Andhra Pradesh, Tamil Nadu, Karnataka, Maharashtra, Gujarat, Madhya Pradesh, Rajasthan, Delhi, Chhattisgarh, Orissa, West Bengal and Jharkhand. Driving crew of customers will be trained at Tata Motors' manufacturing facility in Jamshedpur.

On Wednesday, Tata Motors ended 1.39% down at Rs1,282.40 on the Bombay Stock Exchange, while the benchmark Sensex declined 0.96% to 20,301 points.


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