"As inflationary tendencies have persisted, the primary focus ... remains containment of inflation and anchoring of inflation expectations," RBI governor D Subbarao said in the mid-quarter monetary policy review.
"This warrants maintaining the momentum of recent policy actions to step up investment, alleviate supply constraints, and improve productivity."
For the year, the wholesale price index (WPI) inflation averaged 8.81% in 2011-12 compared to 9.57% in 2010-11.
"A cut in repo rate looks unlikely in 2012."Price worries, costly diesel force central bank to abstain from rate cuts despite faltering growth.