Financial Daily from THE HINDU group of publications
Friday, Mar 12, 2004
Financial Daily from THE HINDU group of publications Friday, Mar 12, 2004 |
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Awards & Honours Industry & Economy - Economy Inflation to stay below 5-5.50 pc: Reddy Our Bureau
Mr Ratan Tata, Chairman, Tata Sons Ltd, and Mr Kumar Mangalam Birla, Chairman, Aditya Birla group, who were conferred the IMC Juran Quality Medal and the Ramkrishna Bajaj National Quality Award respectively at a function organised by the Indian Merchant Chambers in Mumbai on Thursday. - Paul Noronha
Mumbai , March 11 INFLATION is expected to stay below 5-5.50 per cent level at the end of the current fiscal, said Dr Y.V. Reddy, Governor, Reserve Bank of India. The apex bank had earlier pegged the inflation forecast to be between 4 per cent and 4.50 per cent at the end of the financial year. Speaking to presspersons on the sidelines of an awards function organised by the Indian Merchants Chamber, Dr Reddy said, while it is too premature to take a view, RBI is closely monitoring inflation. He said, certain `unexpected movements' in the international Oil and Commodities market have affected inflation figures in the recent past. "In the beginning of the financial year the forecast for inflation was between 5-5.50 per cent and by the end of the fiscal it should be less than that," he said. Speaking on the Market Stabilisation Fund that will soon be launched to absorb excess liquidity from the system, Dr Reddy said, that the details of the scheme are still being worked out and the scheme will be `softly' merged into the Governments borrowing programme. At the awards function, Mr Kumar Mangalam Birla, Chairman, Aditya Birla Group, received the IMC Ramkrishna Bajaj National Quality Award and Mr Ratan Tata Chairman Tata Sons, was conferred the IMC-Juran Quality Medal.
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