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Amid concerns of rising inflation and slowdown of industrial growth, the Reserve Bank of India will hold consultations tomorrow with the government in the run-up to its annual credit policy to be announced next week.
The RBI Governor, Dr D. Subbarao, is expected here tomorrow to hold pre-policy consultations with Finance Ministry officials. “We will talk with the Governor of RBI before he announces the monetary policy. We will have a discussion. I think he is coming tomorrow,” the Finance Minister, Mr Pranab Mukherjee, told reporters here.
The RBI meeting on May 3, which will fix the policy for 2011-12, comes at a time when the industrial growth has started showing signs of lagging and inflationary pressure continues to pose a threat to the economy. Experts say the RBI would hike its key policy rates by at least 25 basis points on May 3 to contain rising inflation. While trying to check prices, the RBI will also be required to take initiatives to promote growth.
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