New Delhi: Inflation is expected to come down to 6% from the present level of 7.61% in next three to four months, Prime Minister’s Economic Advisory Council Chairman Prof C Rangarajan said on 12 May.
“Inflation is likely to come down to 6% in next three to four months. Thereafter it can come down to 5-5.5% depending upon the monsoon and other sectors,” Rangarajan told reporters on the sidelines of a conference.
He also said the high international crude oil prices will also have an impact on the GDP growth rate. However, it will not ‘derail´ the growth process.
In January, the council revised the GDP growth estimates to 8-8.5% for 2008-09, he said, adding the government’s fiscal measures will also have some impact on the tax collection.