VOA标准英语2009年-India Grapples with Prospect of High Infla

By Anjana Pasricha
New Delhi
30 October 2009

As India faces the prospect¹ of high inflation in the coming months, the government may soon begin scaling back on measures taken to cope with the global financial crisis. India's economy is expected to grow by about six per cent this year.

The warning that inflation is rising faster than expected has come from India's Central Bank.

In a statement this week, the Central Bank said inflation could rise to six point five per cent by March next year - more than double its target of about three per cent.

Experts say Inflation is rising because a widespread drought this monsoon² season affected³ crop production and pushed up food prices in the country. Commodity prices such as steel, which had fallen due to the global financial crisis, are rising again.

Economist⁴ P.K. Chowdhury, with domestic rating agency ICRA, says high inflation is worrisome for a country with a vast poor population.

"The daily necessities like clothing, food item etc. these are becoming very expensive for common man," said P.K. Chowdhury. "So that is a cause of anxiety. Purchasing power of the common man is not very encouraging at this point of time."

Economists⁵ say the Central Bank will soon begin repealing⁶ some of the emergency measures put in place in wake of the global financial crisis, in an effort to control inflation. As in most other countries, the government had pumped in billions of dollars, and lowered interest rates to boost consumer demand, and revive the economy.

Although interest rates have not yet been raised, some experts anticipate a rate increase early next year. So far, Australia is the only country that has raised interest rates to control inflation.

Indian industry leaders say they are concerned about the prospect of higher interest rates, saying it could impact an economy on the path to recovery.

However, economist Chowdhury says that is unlikely to happen. He says India's economy is doing better than expected, with forecasts of a rise of six per cent this year.    

"What was being estimated earlier, even that has been re-estimated and revised upward," he said. "So that shows lot of positive things happening. If you look at global recession also, the signs that are coming are improvement everywhere. So that will also have a cascading⁷ effect on Indian economy."

The impact of the global financial crisis was less severe on India compared to other Asian economies because Indian industry relies more on domestic demand than exports.

1 prospect   

n.前景，前途；景色，视野

参考例句：

• This state of things holds out a cheerful prospect.事态呈现出可喜的前景。
• The prospect became more evident.前景变得更加明朗了。

2 monsoon   

n.季雨，季风，大雨

参考例句：

• The monsoon rains started early this year.今年季雨降雨开始得早。
• The main climate type in that region is monsoon.那个地区主要以季风气候为主要气候类型。

3 affected   

adj.不自然的，假装的

参考例句：

• She showed an affected interest in our subject.她假装对我们的课题感到兴趣。
• His manners are affected.他的态度不自然。

4 economist   

n.经济学家，经济专家，节俭的人

参考例句：

• He cast a professional economist's eyes on the problem.他以经济学行家的眼光审视这个问题。
• He's an economist who thinks he knows all the answers.他是个经济学家，自以为什么都懂。

5 economists   

n.经济学家，经济专家( economist的名词复数 )

参考例句：

• The sudden rise in share prices has confounded economists. 股价的突然上涨使经济学家大惑不解。
• Foreign bankers and economists cautiously welcomed the minister's initiative. 外国银行家和经济学家对部长的倡议反应谨慎。 来自《简明英汉词典》

6 repealing   

撤销，废除( repeal的现在分词 )

参考例句：

• In addition, repealing the alternative minimum tax would also help. 此外，废除替代性最低税也会有所帮助。
• Repealing the investment tax credit. 取消投资税款扣除。

7 cascading   

流注( cascade的现在分词 )； 大量落下； 大量垂悬； 梯流

参考例句：

• First of all, cascading menus are to be avoided at all costs. 首先，无论如何都要避免使用级联菜单。 来自About Face 3交互设计精髓
• Her sounds began cascading gently. 他的声音开始缓缓地低落下来。