New Delhi (Times of India): Prime Minister Manmohan Singh said on Monday the inflation rate would stabilise around 5.5% by March and the government would continue to make all out efforts to calm soaring prices.Inflation eased to its lowest this year — at 7.48% in November — bringing relief to policymakers who have been grappling with high prices. Robust crop arrivals in the market have helped ease pressure on food prices but they still continue to remain high.
“Inflation remains a cause for serious concern in our country. We have made all the efforts to contain inflation and we will continue to do so,” Singh told his party delegates at the ongoing plenary session.
“In recent days, the rate of inflation has come down to 7.5%. We expect this downward trend to continue and the rate of inflation to stabilise around 5.5% by next March,” he added.
According to him, the government expects the economy to grow between 9% and 10% from next year as growth in the recent quarters have been strong and the country has withstood the global economic downturn. Read more…..