By IANS
New Delhi : As inflation dipped to a 13-month low, Finance Minister P. Chidambaram Friday said steps to tackle price rise seem to have worked but cautioned policy makers against premature exuberance.
"Inflation right now is 4.28 percent. It is as we had anticipated," Chidambaram told reporters on the margins of an event to release the guidelines on corporate governance for public sector undertakings.
"Monetary tightening measures seem to have had an impact but I think it is too early to reach any conclusion. I have to watch what happens in the next four-five weeks," the finance minister said.
"I have always said we must strike a balance between inflation and growth."
The remarks came in the backdrop of India's annual rate of inflation based on official wholesale price index falling to 4.28 percent, to its lowest level in 14 months for the week ended June 9 from 4.80 percent for the week before.