India's action to tame inflation to show result: adviser

The action taken by the government and India's central bank to tame inflation will show result in the second half of the fiscal year that ends in March 2011, a top government adviser said on today.

The action taken by the government and India's central bank to tame inflation will show result in the second half of the fiscal year that ends in March 2011, a top government adviser said on Tuesday.

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Deputy Chairman of India's Planning Commission, Montek Singh Ahluwalia said short term policy calibration would depend on the evolving macroeconomic situation.

Wholesale price index, India's most closely watched inflation measure, have risen more than 10 percent from a year earlier for the past five months. The index rose 10.55 percent in June and is expected to record a double-digit rise in July.