Indian finance minister Mr Pranab Mukherjee said that inflation could come down to 6 to 7% by the end of this fiscal.

He told reporters in Bangalore that right now inflation was perilously close to reaching double digit figures, however adding while inflation with regard to manufactured goods and fuel had continued to remain high, food inflation had come down by over 4%.

Mr Mukherjee said that “Inflation in primary food articles had also fallen. “The global economic scenario is in a bad shape and this has its effects on India.”

However, he highlighted that though overall inflation is high in the manufacturing sector, fuel and certain other commodities, food inflation has come down.

Talking about the global slowdown, Mr Mukherjee said that "It's true that we are going through difficult times, not only in India, but also all over the world."

(Sourced from www.indianexpress.com)