...Rangarajan pegs it lower at 5.5%, sees growth at 9%

Inflation is expected to come down to 5.5% by March 2011, Prime Minister’s EconomicAdvisoryCouncilchairman C Rangarajan said on Monday. Besides,the PM panel also sees the country to achieve a GDP growth rate between 8.5-9% in the current fiscal. “I think by March (2011), we can expect (WPI) inflation to come down to 5.5%,” Rangarajan said on the sidelines of the 93rd annual conference of Indian Economic Association. “I think any level of inflation beyond 5% (threshold level of inflation) is uncomfortable,”he asserted.