A shopkeeper (R) and a worker sit beside sacks of rice inside a wholesale shop in Siliguri February 19, 2010.
Credit: Reuters/Rupak De Chowdhuri/Files
NEW DELHI |
(Reuters) - A higher-than-expected jump in April inflation makes it difficult for the RBI to moderate monetary policy, the prime minister's top economic adviser C. Rangarajan said on Monday.
India's inflation accelerated in April to 7.23 percent as price pressures for food, fuel and manufactured items all picked up, adding to the Reserve Bank of India's struggle to control prices when economic growth has slumped to a near three-year low.
The bank cut interest rates by a steeper-than-expected 50 basis points at its quarterly policy meeting last month in a move to boost the sagging economy, but warned that there was limited scope for more cuts (curtsey : Reuters)
Rupesh Yatesh Dalal
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