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No need to quicken monetary tightening: Montek

India need not quicken the pace of its return to a normal monetary policy, Montek Singh Ahluwalia, the deputy chairman of the Planning Commission, said on Friday, after the country reported faster-than-expected industrial output growth.

business Updated: Jun 11, 2010 13:14 IST

India need not quicken the pace of its return to a normal monetary policy, Montek Singh Ahluwalia, the deputy chairman of the Planning Commission, said on Friday, after the country reported faster-than-expected industrial output growth.

"It's going quite well, I don't think it needs to be swiftened," Montek Singh Ahluwalia said.

He said he expected double-digit industrial output growth in FY11.

India's industrial output rose much faster than expected at 17.6 per cent in April from a year earlier on strong consumer demand and government spending.