The Union Finance Minister P. Chidambaram said that the inflation rate had taken a dip to 3.9 % and hoped it would remain under control.
He said that various steps are taken to maintain the stability in the price. We are happy it is below four percent now. Anything under four percent can be considered under control," Chidambaram told reporters here.
Asked whether the government had any benchmark to contain the inflation rate, the finance minister said it was for the Reserve Bank of India (RBI) to set such a target. "It is for the RBI to decide what should be the benchmark.
The central bank sets the target. I think the present inflation rate can be considered good enough," Chidambaram said on the sidelines of the World Customs Organization conference on 'Outsourcing and offshoring of IT services'.