The Finance Ministry today said the monetary policy reflects a very balanced approach on the part of the Reserve Bank in promoting growth and managing inflation. Talking to a private news channel, Economic Affairs Secretary Shaktikanta Das said that the RBI's announcement is on expected lines. He said on the whole, it is a very balanced approach, especially given the Fed policy that is round the corner.Asked if there is room for further policy easing, Mr Das said, he would not like to talk about whether there is more room or not but target is to contain inflation. He said, WPI continues to be in the negative territory and Consumer price index is around 5 per cent. He said the government has been able to deal with a third consecutive poor monsoon and those measures are now beginning to show results. Das said, new crops will come into the market in a month or month-and-a-half, but government still have to be very watchful about overall inflation. He said RBI has taken into consideration all necessary aspects while deciding on policy.He said, the Indian economy is likely to grow at about 7.5 per cent this fiscal on the back of series of reform measures undertaken by the government. In its fifth bi-monthly policy statement for 2015-16, RBI has held policy rates and stuck to its GDP growth forecast of 7.4 per cent for the current fiscal. RBI has also said it sees retail inflation at 6 per cent by January 2016 and 5 per cent by March 2017.