Dec. 25 (Bloomberg) -- Tightening monetary policy may not help control inflation, the Economic Times reported, citing an interview with India’s Finance Minister Pranab Mukherjee.
Mukherjee called for a balanced approach to fight inflation as it has been substantially caused by supply side problems, the newspaper reported today.
The finance minister hasn’t set a timeframe for withdrawing the fiscal-stimulus policy and the government is trying to keep the fiscal deficit within the targeted level, according to the report.
India’s benchmark wholesale-price inflation more than tripled in November to 4.78 percent from 1.34 percent in October. An index of food articles rose 19.95 percent in the week ended Dec. 5, the most since 1998, the commerce ministry said Dec. 17.
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