<p>“I feel we will reach the comfortable level of below 5 per cent sometime during the next fiscal,” Basu told PTI.<br /><br />He further said tinflation for March is likely to be a little over 7 per cent. There would be a sharp reduction in March though there would not be much relief in February, he added. Finance Minister Pranab Mukherjee had termed the current level of inflation as “uncomfortable.”<br /><br />This high inflation could prompt RBI to take further monetary tightening measures in its mid-quarterly on March 17. According to Prime Minister's Economic Advisory Council Chairman C Rangarajan, RBI is expected to continue with its monetary tightening policy to fight inflation.</p>
<p>“I feel we will reach the comfortable level of below 5 per cent sometime during the next fiscal,” Basu told PTI.<br /><br />He further said tinflation for March is likely to be a little over 7 per cent. There would be a sharp reduction in March though there would not be much relief in February, he added. Finance Minister Pranab Mukherjee had termed the current level of inflation as “uncomfortable.”<br /><br />This high inflation could prompt RBI to take further monetary tightening measures in its mid-quarterly on March 17. According to Prime Minister's Economic Advisory Council Chairman C Rangarajan, RBI is expected to continue with its monetary tightening policy to fight inflation.</p>