… Sees 6.4-6.6% inflation in 8 weeks

The government expects the inflation rate to decline by a percentage point to 6.4-6.6 per cent in eight weeks from a three-year high in mid-April as fiscal and monetary steps kicks in, minister of state for Industry Ashwani Kumar said on Thursday. “I think the cumulative effect (of fiscal and monetary steps on wholesale price index) will be in the range of about 1 per cent. It may come down to 6.4 or 6.5 or 6.6 per cent in the coming eight weeks,” Kumar said.