Food inflation to ease, WPI unlikely to touch double-digits: Montek
The Planning Commission today said that high inflation, primarily driven by rising food prices, is likely to ease in the next few months on the back of an expected good rabi crop.
By PTI |
MUMBAI: The Planning Commission today said that high inflation, primarily driven by rising food prices, is likely to ease in the next few months on the back of an expected good rabi crop.
"I expect food price inflation to come down in the next couple of months on the back of an (expected) good rabi crop," Planning Commission Deputy Chairman, Montek Singh Ahluwalia, said at a conference here today.
Downplaying fears of WPI inflation touching double-digits, the Planning Commission official said, "I don't think this will happen. I expect WPI inflation to gradually come down...you will see that."
With the economic growth momentum returning, the Planning Commission expects a GDP growth of 8.5 per cent for FY 11 and a nine per cent growth in the subsequent fiscal, he said.
"I think the economy is doing very well...we have weathered an extra-ordinary crisis...now we are well set to get back to 8.5 per cent (GDP growth) in 2010-11 and hope to see a nine per cent growth after that," Ahluwalia said.
"We are going to get back to the path of fiscal prudence," he said, adding that with the economy improving, he expected insitutional investments to continue.
"I expect food price inflation to come down in the next couple of months on the back of an (expected) good rabi crop," Planning Commission Deputy Chairman, Montek Singh Ahluwalia, said at a conference here today.
Downplaying fears of WPI inflation touching double-digits, the Planning Commission official said, "I don't think this will happen. I expect WPI inflation to gradually come down...you will see that."
With the economic growth momentum returning, the Planning Commission expects a GDP growth of 8.5 per cent for FY 11 and a nine per cent growth in the subsequent fiscal, he said.
"I think the economy is doing very well...we have weathered an extra-ordinary crisis...now we are well set to get back to 8.5 per cent (GDP growth) in 2010-11 and hope to see a nine per cent growth after that," Ahluwalia said.
"We are going to get back to the path of fiscal prudence," he said, adding that with the economy improving, he expected insitutional investments to continue.
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