India eyes 7% growth, downplays inflation worries – advisor

India’s top economic advisor, V. Anantha Nageswaran, expressed optimism on Wednesday, stating the government sees no imminent threat of rising inflation and expects the economy to grow above 7 per cent in the current FY, Reuters reported.

Nageswaran attributed the recent decline in inflation to lower fuel prices. With annual retail inflation hitting a five-month low of 4.85 per cent in March, he downplayed concerns about a significant upsurge.

India’s monetary policy committee aims to maintain inflation within a two per cent to six per cent band. The Reserve Bank of India, the central bank, targets four per cent inflation before considering rate cuts.

Nageswaran expressed confidence in India’s ability to achieve non-inflationary growth.