April inflation seen at 8.3%: Kaushik Basu

In accordance with the chief economic advisor of the finance ministry, Kaushik Basu, the April headline inflation is anticipated to remain around 8.3%.

This announcement was done by Basu when the rates were lifted at a faster pace by RBI for the purpose of bring down inflation. On Tuesday, the interest rates were increased by 50 basis points by the central bank with an aim of pulling down the high ended inflation existing since a long time now.

Inflation has become such a big concern for the central bank that it had to hike the rates even though knowing the fact that this step taken might affect the economic growth of the nation in a bad way.

It has been noticed that the month of March during FY11 witnessed a rise of 8.98% as compared to the inflation existed during the same month of FY10.

However, February"s inflation during FY11 also went through a rise of 8.31% when kept against the corresponding month of the previous year.

Read more about: inflation, economy
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