........We have to balance growth and inflation risks, and when we see the inflation risk being the dominant one, as we have seen now, we cannot afford to ignore that risk, especially since pressure points on food and oil prices are re-emerging," Subir Gokarn said at a conference of foreign-exchange dealers. His comments echo those of fellow Reserve Bank of India Deputy Governor K.C. Chakrabarty, who Thursday pointed to the risks from rising food and oil prices that could weigh on the RBI's rate decision when it next meets in September........
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