Inflation to be about 5.5% in FY'14: RBI
Quotes

Inflation to be about 5.5% in FY'14: RBI

Last Updated: Friday, May 03, 2013, 17:01
 
 Comment 0
 
Inflation to be about 5.5% in FY'14: RBI
Mumbai: The Reserve Bank on Friday said it expects inflation to be range-bound around 5.5 per cent during the current fiscal year.

"In the Reserve Bank's assessment, WPI inflation is expected to be range-bound around 5.5 percent during 2013-14. This assessment factors in the domestic demand-supply balance, the outlook for global commodity prices and the forecast of a normal monsoon," RBI said in its annual monetary policy review for 2013-14.

Headline inflation, as measured by the wholesale price index (WPI), moderated to an average of 7.3 per cent last fiscal year.

The overall inflation in March fell to 5.96 percent, lowest in the last three years.

The central bank further said that it is critical to consolidate and build on the recent gains in containing inflation and it will endeavour to condition the evolution of inflation to a level of 5 per cent by March 2014.

RBI Governor D Subbarao cut the key interest rate by just 0.25 per cent to 7.25 percent and kept the liquidity enhancing cash reserve requirement unchanged, disappointing the industry and stock market.

RBI said there would be modest improvement in the country's economic growth to 5.7 per cent in the current fiscal, as against the decade's low of 5 per cent in 2013-14.

PTI


First Published: Friday, May 03, 2013, 16:56


Comments


comments powered by Disqus
New York Auto Show 2014
New York Auto Show 2014
Top Businesswomen in India
Top Businesswomen in India
World`s top ten billionaires 2014
World`s top ten billionaires 2014
2014 Geneva International Motor Show
2014 Geneva International Motor Show
Geneva Auto Show 2014
Geneva Auto Show 2014

Web Wrap
Contact Us : Privacy Policy : Legal Disclaimer
Copyright © Zee Media Corporation Ltd. All rights reserved