Inflation to be brought down to 4-5 pc: Chidambaram

New Delhi, Feb 28 (UNI) The government is confident of bringing down inflation to the ''tolerance level'' of 4-5 per cent, Finance Minister P Chidambaram said today.

Addressing the post-Budget press conference, Mr Chidambaram said theoretically high rate of economic growth could be achieved by maintaining even zero per cent inflation.

Replying to a question on what was the right inflation for sustaining a 9-10 per cent GDP growth rate, he said ''there is no answer'' to this.

However, today the tolerance level of the people appeared to be 4-5 per cent, though they had lived with 12-20 per cent inflation at different periods in the past, he said.

The governments in the past as well as the present UPA had succeeded in tackling galloping inflation and this would be demonstrated once again, he said.

UNI