Anti-inflation measures need time: Nath
Referring to anti-inflation measures, Nath says that we will let them work.india Updated: Feb 01, 2007 17:37 IST
India's measures to cap inflation need time to take effect and India does not want to do anything to jeopardise economic growth, Indian Commerce and Industry Minister Kamal Nath said on Thursday.
"What we put into motion, let it play itself out," Nath said before making a speech. "We don't want to put on brakes which stop growth also."
India's central bank raised its key short-term lending rate on Wednesday to its highest level in nearly four years, and analysts said another increase was likely in the next three months to curb inflation and credit growth.
Referring to anti-inflation measures, Nath said: "We will let them work. They have just been initiated and we should let them work. With our growth rate, up to 4.0 per cent (inflation) is quite normal."