RBI's Subbarao dismisses deflation worries

The governor of the Reserve Bank of India (RBI) has dismissed fears that the country's economy could suffer a prolonged bout of falling prices, saying that there was "no concern of deflation."

Speaking on 20 June, Duvvuri Subbarao said that although recent changes in the wholesale price index have been negative, there are some constituents of the index, such as food items, where inflation is significant.

Recent statistical released showed that India's inflation rate fell to a 30-year low of min