Inflation slipped further 0.13 percent
India: India’s annual rate of inflation fell to 0.13 percent for the week ended May 30 from the previous week close of 0.48 percent. This is the 13th successive week that the inflation stood below one per cent mark.
Even though the inflation is fell to its lowest level the price of food and vegetable are rising are still expensive.
Analysts believe that the economy will fell in to the deflation in upcoming weeks. Even though many believe that the Indian economy inflation won’t be in negative for long time.
In a bid to stimulate economic growth, finance minister Pranab Mukherjee asked public sector banks to provide credit at reasonable rates. In his address to chief executives of the public sector banks on wednesday, Pranab Mukherjee said "as a financial intermediary the banks have to stand by to provide credit at reasonable rates."
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