New Delhi -°C
Today in New Delhi, India

Aug 18, 2019-Sunday
-°C

Humidity
-

Wind
-

Select city

Metro cities - Delhi, Mumbai, Chennai, Kolkata

Other cities - Noida, Gurgaon, Bengaluru, Hyderabad, Bhopal , Chandigarh , Dehradun, Indore, Jaipur, Lucknow, Patna, Ranchi

Monday, Aug 19, 2019

Poll: Is Subramanian being alarmist calling deflation a worry?

India's economy faces a new challenge in deflation, chief economic advisor Arvind Subramanian said on Wednesday after GDP data earlier this week showed lower first quarter growth.

business Updated: Sep 03, 2015 22:30 IST
HT Correspondent
HT Correspondent
Hindustan Times
Economy
Economy( )
         

India's economy faces a new challenge in deflation, chief economic advisor Arvind Subramanian said on Wednesday after GDP data earlier this week showed lower first quarter growth.

"One real challenge that looms ahead appears not to be the price inflation but the possible price deflation," Subramanian said.

Read:Arvind Subramanian says deflation is a new challenge

"Overall, economic growth is moving in the right direction, although its pace is still below what the economy needs," he added.

India's annual inflation rate based on wholesale prices continued in the negative territory in June, falling to (-)2.4% from (-)2.36% in May, provoking India Inc. to call in unison for a Reserve Bank rate cut.

First Published: Sep 03, 2015 15:36 IST

more from business