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Indian government advised to target 5% inflation

The Indian government should target wholesale and consumer price inflation of 5 percent and look to reducing it to maintain price stability and inclusive economic growth, the Planning Commission – the government’s advisory body on economic development – said in a draft report.

The document, circulated as part of a review of the economic progress between fiscal years 2007-08 and 2011-12, was obtained by Reuters and stated that achieving this target was "quite within the realm of possibilities".