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15/09/2014  
ASSOCHAM has welcomed the estimates of low wholesale price
 

Apex industry body ASSOCHAM has welcomed the estimates of low wholesale price inflation in August 2014. If we recall, in August 2013 the Country witnessed build up of inflationary pressures

 mainly aided by steep increase in the prices of primary articles and fuel & power, in contrast, August 2014 has seen low rise in the prices of primary articles and fuel group.

The moderation of prices of food, energy and materials not only in India but across the world has certainly lead to low wholesale inflation in India. The favourable base effect too has played its role in this result, said Mr D.S. Rawat, secretary general of The Associated Chambers of Commerce and Industry of India (ASSOCHAM).

However, if sustained, this would surely turnout to be a key factor leading to economic growth revival in India,said Mr Rawat.

If we consider the conditions on the ground, industrial production in the month of July 2014 registered a mere 0.5 percent growth as the capital goods and consumer durables are passing through a prolonged phase of deceleration, he added.

Therefore, in order to address the current growth concerns, authorities need to create more conducive conditions to promote economic growth, specifically, the RBI has to ensure that the cost of finance to the end user becomes competitive in its upcoming bi-monthly monetary policy review, said Mr Rawat.

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