Inflation continues to plague the Indian economy eliciting RBIs measures in the form of a series of rate hikes. Will this cause lending rates to rise up rapidly? Can the Indian government tame the raging food prices to reasonable levels?

In an exclusive interview with CNBC-TV18 Aditya Puri of HDFC Bank says that he sees inflation cooling off to around 7% by March. “Going forward inflation is going to be a function of the food prices, commodity prices and demand pressures. We have noticed whenever the growth rate goes beyond 8.5% we get this entire cry about inflation. So if its 8.5% or below I don’t think inflation is going to be that much of an issue,” he said.