FICCI president Dr. Jyotsna Suri has said that inflation is expected to remain range bound and within the Reserve Bank of India’s indicative trajectory this fiscal year.
Dr. Suri said the wholesale price index based inflation rate remained unchanged at (-) 2.4 percent in June 2015.
“The pickup in monsoons in June augurs well for agri-production in the coming months. Inflation is expected to remain range bound and within Reserve Bank of India’s indicative trajectory this fiscal year,” she added while commenting on WPI inflation data for June 2015.
Dr. Suri further said the IIP numbers, however, remain volatile and there is a critical need to firm up industrial growth.
“The demand situation in the economy is still weak and industries across sectors are operating at sub-optimal capacity. We hope that the Reserve Bank would maintain its accommodative stance in the third bi-monthly statement for 2015-16 to be announced next month. In fact, industry would like to see a deeper cut in the policy rate and its equivalent transmission by the banks in the form of lower lending rates,” added Dr. Suri.