Finance Minister Mr Pranab Mukherjee said that new monetary policy announced today will control inflation and promote growth.<br/><br/>Talking to reporters outside Parliament on Tuesday, Mr Mukherjee said economic growth is on track and inflationary pressures were on a downward trajectory with the government seeing less than 5.5 percent headline inflation in fiscal year 2010/11 (April-March).<br/><br/>He said it is time to move back towards neutral policy rates, that is rates that should prevail when an economy is stable and on track.<br/><br/>The finance minister said the overall economic scenario looks extremely robust and the credit tightening is unlikely to dampen growth in durable goods sector.