EVEN a return to Inspector Raj looks probable as a distraught government is determined to rein in spiralling prices at any cost. The government is considering imposition of price ceilings on commodities if other measures to repress inflation fail. The finance ministry recently asked the Cabinet Committee on Prices (CCP) to issue a notification authorising ministries to invoke section 18G of the Industrial Development & Regulation Act, 1951. It has proposed that ministries and departments should be vested with the authority to impose price controls on essential commodities like steel and cement. The Cabinet has decided to pursue the finance ministry proposal if all other steps, including government checks and voluntary action by industry, fail to make a satisfactory dent in prices. Inflation peaked to 6.68% in the week ended March 17, sending the government into a tizzy. That the Act