Inflation has reached an uncomfortable level and some action was needed by the Reserve Bank of India, Economic Advisory Council to Prime Minister Chairman C. Rangarajan said here on Tuesday.
In a brief chat with reporters after conclusion of the 12th Convocation of the University of Hyderabad where he was awarded an honorary doctorate degree, he said the RBI had to decide on the timing. But some action was called for, he added.
Replying to a question, he said the fiscal deficit could be somewhat low than what was being projected.
