News of relief for the country as inflation is likely to slow down from January next year, said Reserve Bank of India Governor Duvvuri Subbarao on Thursday.
"We are expecting that inflation will come down from this fiscal's fourth quarter, which is starting from January," Subbarao told reporters after the central bank's board meeting at Kilkata today.
On being asked whether the direct cash transfer scheme aimed to begin from January next year in 51 districts all over the country would have any effect on inflation, he said: "We think that it will not spurt inflation."
RBI will take care of the growth-inflation trajectory on Jan 29 in its quarterly review and will decide then on its monetary policy, he added.
"It (inflation) has come down from its peak, but at 7.50 percent, inflation is still high," Subbarao said, hinting that RBI would leave the policy rates unchanged at the Dec 18 mid-quarter review.
India's inflation fell to an eight-month low of 7.45 percent in October.
-With inputs from IANS
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