June inflation seen below 10 pct: Sen

Sen also said the RBI may hike rates at any time. Pressure has been mounting on the Reserve Bank of India RBI to raise rates ahead of a scheduled July 27 policy review after the wholesale price index rose 10.16 per cent in May,the highest level in the G20 group of leading economies.

But a slew of sometimes contradictory comments from government officials and central bankers,and a cash squeeze in the banking system,have kept the market jittery about possible tightening moves.

Sen also said that economic growth in the current fiscal year ending March 2011 may exceed the targeted 8.5 per cent.