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New policy to tackle inflation soon
19 April 2011: Despite corrective measures, rising inflation remains a “matter of concern” for the Reserve Bank of India (RBI).
The RBI is likely to come out with new steps to tackle inflation in its annual monetary policy review. Inflation in March 2011, stood at 8.98 per cent, almost one percentage point higher than the RBI's prediction; the monetary policy review is scheduled for 3 May 2011. The current inflationary pressure is a result of a spill-over in inflation from the food to the non-food manufacturing sector. Inflation data for the week ended 2 April 2011 show food inflation at 8.28 per cent.
Source: Hindu Business Line