June 26, 2011 11:24 AM

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Inflation will come down to 6.5 per cent by March 2012: Rangarajan

Prime Minister's Economic Advisory Council (PMEAC) Chairman C Rangarajan described the government's decision to raise prices of diesel, cooking gas and kerosene as inevitable and said, it would push inflation into the double-digit zone. However, Mr.Rangarajan said, he expects that after initial correction, inflation will come down to 6.5 per cent by March 2012. He said, the decision to raise fuel prices was inevitable in view of the rising crude prices in the global market and its impact on the fiscal deficit. The PMEAC chief's views found support from other experts and economists.

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