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India’s worries must not be seen in isolation- Kaushik Basu
27 April 2011: India’s ongoing inflation-related worries must not be seen in isolation. Instead, it is a challenge being faced by several emerging economies, the finance ministry’s chief economic advisor Kaushik Basu said, while also calling for concerted international action to deal with the issue. Inflation has emerged as a major cause for concern ahead of the Reserve Bank of India’s monetary policy announcement next week, when further monetary tightening is expected to curb rising prices. The central bank has already hiked key policy rates eight times in 2010. Inflation in India had come down to over 8 per cent currently from 11 per cent in April 2011.
Source: Business standard