Assocham lauds WPI data for August 2014
16/09/2014 18:11
The apex industry body ASSOCHAM has hailed the estimates of low wholesale price inflation in August 2014 that has hit a five year low at 3.74 percent courtesy declining vegetable prices and other food articles.
“The moderation of prices of food, energy and materials not only in India but across the world has certainly lead to low wholesale inflation in India. The favourable base effect too has played its role in this result,” said D.S. Rawat, Secretary General of The Associated Chambers of Commerce and Industry of India (ASSOCHAM).
“However, if sustained, this would surely turnout to be a key factor leading to economic growth revival in India,” said Mr Rawat.
According to the report, August 2014 has seen low rise in the prices of primary articles and fuel group.
He further said that in order to address the current growth concerns, authorities need to create more conducive conditions to promote economic growth, specifically, the RBI has to ensure that the cost of finance to the end user becomes competitive in its upcoming bi-monthly monetary policy review.
16/09/2014 18:11
The apex industry body ASSOCHAM has hailed the estimates of low wholesale price inflation in August 2014 that has hit a five year low at 3.74 percent courtesy declining vegetable prices and other food articles.
“The moderation of prices of food, energy and materials not only in India but across the world has certainly lead to low wholesale inflation in India. The favourable base effect too has played its role in this result,” said D.S. Rawat, Secretary General of The Associated Chambers of Commerce and Industry of India (ASSOCHAM).
“However, if sustained, this would surely turnout to be a key factor leading to economic growth revival in India,” said Mr Rawat.
According to the report, August 2014 has seen low rise in the prices of primary articles and fuel group.
He further said that in order to address the current growth concerns, authorities need to create more conducive conditions to promote economic growth, specifically, the RBI has to ensure that the cost of finance to the end user becomes competitive in its upcoming bi-monthly monetary policy review.
