FM says concerned about inflation
Chidambaram also said it was important not to "fall into policies" that dampened economic growth.
By PTI |
LONDON: Finance minister Palaniappan Chidambaram said on Wednesday that he was concerned about inflation, but it was important not to use policies that would dampen economic growth.
In answer to a question about inflation at an investment conference, Chidambaram said:
"Yes, we are concerned," but added:
"There is no reason why the growth story can't keep going for 10-15 years...as long as the growth story is maintained and growth is averaging 9 per cent over the next 10 years."
Chidambaram also said it was important not to "fall into policies" that dampened economic growth.
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Recent data showed India's wholesale inflation fell to its lowest in 14 months at 4.28 percent in the 12 months to June 9, well below a two-year high of 6.69 percent hit in January. Chidambaram said last week that monetary tightening measures may have worked but inflation must be watched for the next 4-5 weeks.Download
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