Money & Banking

A right step, says Montek

PTI New Delhi | Updated on November 10, 2017


The Planning Commission on Thursday said the Reserve Bank has taken the “right” step in hiking key policy rates by 25 basis points as inflation is above the comfort level.

“I think it is on long expected lines. I don't think markets would be surprised by (RBI key rate hike) given that inflation is not in the comfort level, I think it has done the right thing,” the Planning Commission Deputy Chairman, Mr Montek Singh Ahluwalia, told reporters here.

On inflation projection, Mr Ahluwalia said, “I don't disagree with the (RBI's revision of inflation) forecast of 8 per cent inflation by March-end.”

Published on March 17, 2011

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