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| India policy should focus on growth: PM`s adviser | | | AGENCIES
NEW DELHI, Oct 16: India's inflation rate would remain in double digits for some time, but the trend is towards it easing and policy could now be focused towards growth, a top economic adviser said on Thursday.
"Double-digit inflation would remain for some time as a consequence of the base effect," Suresh Tendulkar, chairman of Prime Minister's Economic Advisory Council said in a telephone interview.
"But the rate of inflation seems to be easing. Since this is a pre-election year, inflation will be the uppermost issue. Bureau Report "As I mentioned, the policy should now be towards growth."
Tendulkar said the Reserve Bank of India would definitely keep an eye on inflation numbers before making any cut in interest rates.
India's wholesale price index rose 11.44 percent in the 12 months to Oct. 4, below the previous week's annual rise of 11.80 percent and the lowest annual rate since the end of May, data showed on Thursday. |
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