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Indian Economy- A View
May 13th, 2008 =B7 No Comments
Inflation :
The rate of Inflation fell below six per cent after more than two
months and stood at 5.74 per cent during the last week of 2006-07
against 6.39 per cent a week ago despite rise in prices of major food
products as well as some fuel and manufactured items. This resulted in
average inflation standing at 5.18 per cent for 2006-07, within RBI=92s
projection of 5-5.5 per cent. Inflation had averaged 4.46 per cent
during 2005-06.
The fall in inflation during the week ended March 31 might ease
pressure on RBI to tighten monetary policy. The decline in inflation
would also give some respite to the government, which has been
struggling hard to bring down inflation within RBI=92s projection of
5-5.5 per cent. Worried over the political fallout of the continuing
high prices of essential commodities, the Government decided to im****t
additional 15 lakh tonnes of pulses over the next 6-8 months to bring
down prices.
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