Prime Minister's Economic Advisory Council (PMEAC) today discussed policy options with regard to slowing economic growth and high inflation.The meeting was called by the Prime Minister to deliberate on the current economic situation and to consider the policy options in this regard.The meeting was attended by PMEAC Chairman C. Rangarajan, RBI Governor B. Subba Rao, Advisor to the Finance Ministry Kaushik Basu and Planning Commission Deputy Chairman Montek Singh Ahluwalia among others.AIR correspondent reports, persistently high inflation has forced the Reserve Bank of India (RBI) to increase the key policy rates 12 times since March, 2010.Major inflation remained close to the double-digit mark at 9.72 per cent in September as food products, fuel and manufactured goods grew costlier, a development that is likely to prompt RBI to continue with its policy of monetary tightening.Food inflation stood at 9.32 per cent for the week ended October 1, as prices of major kitchen staples continued to pinch consumers' pockets.India's economy grew by 7.7 per cent in the first quarter, the slowest growth in 18 months, against 8.8 per cent in the same period in the previous fiscal.Industrial output also remained subdued for the second consecutive month in August, registering a growth of just 4.1per cent.