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New Delhi, Aug 22 The Finance Minister, Mr P. Chidambaram, on Wednesday assured the Lok Sabha that all fiscal, monetary and supply side measures would be taken to rein in the wholesale price index (WPI) based inflation in the 4-4.5 per cent range.

“Our goal is to keep inflation close to 4 per cent. We will take all fiscal, monetary and supply side steps to keep it between 4-4.5 per cent. I am hopeful that it will be close to 4 per cent. The monetary and fiscal steps that we have already taken has worked and WPI based inflation is now at 4.05 per cent,” Mr Chidambaram said in his reply to the debate on supplementary demand for grants for 2007-08 at the Lok Sabha.

For fiscal 2007-08, the Reserve Bank of India has pegged the inflation target at 4.5-5 per cent level. Mr Chidambaram highlighted that average inflation in 1979-80 was 17.1 per cent, 11 per cent in 1990-95 and 4.9 per cent in 2000-04.

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