New Delhi: 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.
