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High inflation not conducive to investment: RBI

High inflation not conducive to investment: RBI
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First Published: Thu, Aug 18 2011. 04 30 PM IST
Updated: Thu, Aug 18 2011. 04 30 PM IST
Bangalore: High inflation even with high growth is not conducive to investment and corporate performance, said Subir Gokarn, a deputy governor with the Reserve Bank of India (RBI) on Thursday.
Earlier in the day Anand Sinha, another deputy governor of the central bank, had said tackling inflation is the bank’s primary concern.
Indian inflation eased in July although the still-high headline number and persistent price pressures in manufactured goods raised the odds that monetary policy will have to stay tight in the economy despite the rising risks to growth.
The food price index rose 9.03% and the fuel price index climbed 13.13% in the year to 6 August data on Thursday showed.
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First Published: Thu, Aug 18 2011. 04 30 PM IST
More Topics: Inflation | Subir Gokarn | Growth Rate | RBI | Economy |