9-10 pc growth achievable: Montek Singh Ahluwalia

The Deputy Chairman of Planning commission of India Motek Singh Ahluwalia hopes that India can 9-10 per cent growth rate in this current fiscal. According to media reports, he said the problem of inflation was short term and would moderate in due course, as the government has taken several monetary and administrative measures to rein in inflation."Inflation will moderate. Let's have patience," Ahluwalia said, according to media reports.

The government of India and the Reserve Bank of India have been trying to calm the inflation rate, but major strategies were not effective. On the contrary, waiving farmers credit, approval of sixth pay commission's recommendations such news stories are hardly do any help to check the inflation rather escalating it. These are extra burden on the economy, and the deficit has be to met. Experts believe that the RBI may further rise interest rate besides it rose the CRR and interest rate in order to check the inflation through monetary measures. If the version of expert would be true, then in near future there would be great change in the money market. The banking transactions and lending rates could make some difference to your daily transactions. In fact, the deputy chairman is probably right, now people need to have patience to see the any slide in the inflationary figures. However, some of apex international monetary institutions were reportedly indicated toward persisting of inflationary rate in India for next couple of months.