Indian inflation reined in due to tight monetary policy
Tuesday, 13 November 2007
COLOMBO, Nov 12 (PTI): Expressing satisfaction over the fall in inflation in India which has reached a five-year low at under three per cent, Finance Minister P Chidambaram yesterday attributed it to a tight monetary policy.
"Inflation has been tamed because we have adopted rather a tight monetary policy," Chidambaram said in a reply to a question after addressing the Annual Lakshman Kadirgamar Memorial Lecture here.
India's inflation rate fell to its lowest level in more than five years as food staples such as fruits, vegetables and sugar declined, official data showed Thursday.
"Inflation has been tamed because we have adopted rather a tight monetary policy," Chidambaram said in a reply to a question after addressing the Annual Lakshman Kadirgamar Memorial Lecture here.
India's inflation rate fell to its lowest level in more than five years as food staples such as fruits, vegetables and sugar declined, official data showed Thursday.