The Associated Chambers of Commerce and Industry of India (ASSOCHAM) feels that the government needs to intervene to rationalize the negative zone inflation as it reflects slowdown in production activities with piling up of inventories due to lack of demand creating speculation for further decline in prices.
“Negative inflation rate indicates that there is room for further rationalization of the interest rate structure in order to boost demand in the economy”, said Sajjan Jindal, President ASSOCHAM.
Jindal feels that the need of the hour is to accelerate growth in the economy with stable price regime in order to encourage demand.
India's annual rate of inflation turned negative breaking a record of 32 years, falling to minus 1.61 per cent for the week ended June 6, 2009.
Source: ASSOCHAM
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