New Delhi, May 18 -- The government's call to adopt austerity measures in gold and fossil fuel would become important to manage demand-side pressures amid global uncertainties and possible supply shocks that could impact inflation, Former Secretary, Ministry of Skill Development and Entrepreneurship KP Krishnan said on Monday.

"Clearly you know what is happening in the globe will call for austerity because clearly there is going to be a supply shock, and if there is a supply shock, unless demand adjusts, we will have serious problems on the inflation front," Krishnan while responding to a query by ANI on the sidelines of the ASREC India Limited logo launch event in the national capital.

He said India has maintained a strong record on in...