FM Says Inflation Goal Is 4-4.5% Range

New Delhi: The Finance Minister, Mr P. Chidambaram, on Aug 22, assured the Lok Sabha that all fiscal, monetary and supply side measures will be taken to rein in the wholesale price index (WPI) based inflation in the 4-4.5 per cent range. Their goal is to keep inflation close to 4 per cent. They will take all fiscal, monetary and supply side steps to keep it between 4-4.5 per cent. For fiscal 2007-08, the Reserve Bank of India has estimated the inflation target at 4.5-5 per cent level. Mr Chidambaram highlighted that average inflation in 1979-80 was 17.1 per cent, 11 per cent in 1990-95 and 4.9 per cent in 2000-04.