Dear Comrades,
NEW DELHI: India's high inflation continues to be a concern and the government and the central bank will take appropriate steps to lower inflation to a comfortable level, the finance ministry said in a statement.
The statement also said the government intends to bring down headline inflation to 6-6.5 percent "in near term" from 9.44 percent in June.
The Reserve Bank of India ( RBI) is expected to raise rates for the 11th time since March 2010 at its monetary policy review next Tuesday to combat sticky inflation.
Reuters Jul 22, 2011, 01.37pm IST
Reuters Jul 22, 2011, 01.37pm IST