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Economy | No chance of deflation in India yet: Pronab Sen

Economy | No chance of deflation in India yet: Pronab Sen
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First Published: Sat, Feb 14 2009. 12 13 AM IST
Updated: Sat, Feb 14 2009. 12 13 AM IST
New Delhi: Indian annual wholesale price inflation may drop to zero or sub-zero levels in the next two months but there was little chance of deflation in the economy, the government’s chief statistician said on Friday.
“Last year, in February, March, the WPI (Wholesale Price Index-based) inflation spiked. Good chance is that over the next two months, you might see WPI inflation actually coming to zero or sub-zero,” Pronab Sen, secretary at the ministry of statistics and programme implementation, said.
—Reuters
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Govt to provide subsidy on home loans to poor
New Delhi: In a bid to meet the housing shortage, the Centre has approved a scheme of interest subsidy on loans to the poor. Minister of housing and urban poverty alleviation Kumari Selja told the Lok Sabha that a subsidy of 5% on home loans up to Rs1 lakh can be availed of by members of economically weaker section and low income groups.
—PTI
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First Published: Sat, Feb 14 2009. 12 13 AM IST
More Topics: Economy | Inflation | Deflation | WPI | Subsidy |