Advertisement

HindustanTimes Tue,02 Sep 2014

RBI lowers inflation target to 6.8%

HT Correspondent, Hindustan Times  Mumbai, January 29, 2013
First Published: 23:09 IST(29/1/2013) | Last Updated: 00:32 IST(30/1/2013)

The Reserve Bank of India has revised downwards inflation projection for March 2013 to 6.8% from the earlier estimation of 7.5% with the firm belief that price rise has peaked out.

Advertisement

The economy has been facing high inflation for the past few years as average wholesale price index inflation stood at 9.6% in 2010-11 and 9% in 2011-12 before moderating to 7.18% in December 2012.

“The substantial easing of non-food manufactured products inflation over the third quarter in an environment of slower growth and excess capacity in some sectors suggest that inflation has come off its peak,” said RBI.

But it does not see prices falling steeply mainly due to stubborn food price increase.


Advertisement
more from Business

RBI asks banks to set timeline to process loans

To expedite credit decisions, the Reserve Bank of India on Monday asked banks to set a timeline for disposal of loan proposals but did not ascribe a particular timeframe for the same.
markets
Advertisement
Most Popular
Advertisement
Advertisement
Copyright © 2014 HT Media Limited. All Rights Reserved