It is natural to have inflation when money can be created out of thin air !
“Inflation is an urgent issue and we don’t have a package as yet which can give us confidence,” Jalan, 69, who headed the Reserve Bank of India from 1997 to 2003, said in an interview in New Delhi yesterday. “We heard inflation will come down by March, then April. It was supposed to come down by now.”
Consumer prices in India are rising at least twice as fast compared with inflation rates in Brazil, Russia and China, the other three nations that make up the BRIC economies.
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