The Finance Minister was reacting to the Reserve Bank of India’s Monetary Policy announcement made today.
The Finance Minister Shri Mukherjee has stated that this was on expected lines, as the core inflation hardened to 8.71 per cent in May 2011 in comparison to 7.93 per cent in April 2011 . Mukherjee stated that there was a need to have better price stability for sustaining growth in the medium-term.