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INDIA'S INFLATION RATE TO BE WITHIN 5.5% IN FYO5: MINISTER.
NEW DELHI, Aug 2 Asia Pulse - Unperturbed by the rising price level since June, the government said average inflation during 2004-05 will not exceed the target of 5-5.5 per cent.
"RBI has pegged inflation at 5-5.5 per cent for 2004-05 and it has not changed its forecast. There is no reason to believe that inflation will increase beyond that," Finance Secretary D C Gupta told PTI when asked about the increase in price level in the last few weeks.
Inflation based on Wholesale Price Index surged to 6.52 per cent for week ended July 10 while remaining unchanged in the subsequent week.
He said the point-to-point ...
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