Inflation to stay around 7 pc: RBI annual report

August 24, 2012 10:43

The Reserve Bank of India's annual report says that tightening and growth deceleration led to inflation slowing down and that FY12 growth will be at previous year levels. It further adds that inflation should remain around 7 per cent, while it warns that upside risks to the economy remain.

The report also emphasises that risk to the economy is emanating from deficient monsoon and also that risk of twin deficits are increasing concern for macro economic stability.

However, the central bank adds that limited fiscal and monetary space will provide direct stimulus and that consolidation is required to sustain growth and reduce inflation.

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