He also said that deflation would not be there for a long time. India"s wholesale price index rose 0.44 per cent in the 12 months to Mar 7, the lowest annual reading in the history of the current series.
"It is a good development. It gives us reassurance that we can take measures to stimulate the economy," Ahluwalia told reporters, adding negative inflation would not be good from a growth point of view.
"We will not have sustained deflation," he said.