July 13 (Reuters) – India’s industrial output in the current fiscal year INIPC=ECI will be similar to last fiscal’s 10.4 percent growth, C. Rangarajan, chairman of the Prime Minister’s Economic Advisory Council, said on Tuesday.
He also said the central bank would need to act if double-digit inflation persists.
“If the inflation level persists at double-digit level for several months together, some action on demand side is needed. So the action on the part of RBI (Reserve Bank of India) is required.”
(Reporting by C.J. Kuncheria; editing by Malini Menon)