The government is expected to take additional fiscal as well as monetary measures if prices do not soften in coming weeks, said Planning Commission Deputy Chairman Montek Singh Ahluwalia on May 6.
However, Ahluwalia cautioned against taking administrative measures. Ahluwalia said the country is likely to record a growth of 8 per cent during the current fiscal. According to the RBI annual credit policy, Indian economy would grow between 8-8.5 per cent during the current year. During 2007-08, the economy expanded by 8.7 per cent. Inflation touched a 42-month high of 7.57 per cent for the week ended April 19.
However, Ahluwalia cautioned against taking administrative measures. Ahluwalia said the country is likely to record a growth of 8 per cent during the current fiscal. According to the RBI annual credit policy, Indian economy would grow between 8-8.5 per cent during the current year. During 2007-08, the economy expanded by 8.7 per cent. Inflation touched a 42-month high of 7.57 per cent for the week ended April 19.
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