The Hindu Business Line : Inflation could touch 6% by March: Virmani

The Finance Minister, Mr Pranab Mukherjee, releasing a book ‘The Sudoku of India’s Growth’ in the Capital on Tuesday. From the left are Dr Suman K. Bery, Director-General, NCAER; Mr Arvind Virmani, Chief Economic Advisor, Ministry of Finance and the author of the book; and Mr Hari S. Bhartia, Vice-President, CII.

Our Bureau

New Delhi, Sept. 29 Inflation in the country could accelerate to six per cent by March next year.

This is according to the Chief Economic Advisor to the Ministry of Finance, Mr Arvind Virmani. He was speaking at the launch of his book ‘The Sudoku of India’s Growth’.

He added that growth might dip below seven per cent if weak monsoon rains result in lower farm output. Mr Virmani, however, said that the impact of lower agricultural output would be felt in the next quarter. Higher corporate tax revenues indicate a recovery, he added.

The Finance Minister, Mr Pranab Mukherjee, who was present at the launch, said, “Economic growth has to be an instrument for development and not an end in itself. Growth needs to be inclusive and equitable so as to sustain it over a longer period. Growth of income is important but it is also important for the resources it brings in.”

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