He said earlier that Indian inflation was still high and should be reduced and held in a range of 4 to 6 per cent.
New Delhi: India's recent budget should have a softening effect on inflation, Reserve Bank of India (RBI) governor Duvvuri Subbarao said on Wednesday. "Given the circumstances, I think it's (the budget) very measured and responsible," he told students in London.
"If he (Finance Minister P Chidambaram) delivers on that, from a central bank perspective, there'll be some softening impact on inflation," Subbaro said.
He said earlier that Indian inflation was still high and should be reduced and held in a range of 4 to 6 per cent.
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