Virmani said he saw inflation continuing to ease in the coming weeks, but did not expect deflation in Asia's third-largest economy.
Annual wholesale price inflation, India's most widely watched price measure, fell to a 6-½ year low near 3 percent in late February.
"I expect inflation by March to be below 3 percent. This I have been saying since December. What is happening now is not a surprise move at least," he said. "I don't expect deflation in India."
Virmani said the government would have the "will and the ability" to return to its fiscal responsibility targets but did not say when that may happen.
To read more, please, visit - Slowdown in India until Sept
What is your take on the government's "will and the ability"?Yes, i am talking about the new government which will come in power after these Lok Sabha elections. Do you feel that whichever government comes in the power will follow the same old policies? The new government will have same "will and the ability". Really? Then why spend Rs10,000 crore on the coming Lok Sabha elections? Just because elections are another type of a stimulus package? Please, share your views on Indian government's "will and ability" to revive the economy, in the comments.
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