India could consider fine-tuning its inflation targeting framework in future reviews by lowering the inflation target and narrowing the tolerance band if the favourable growth-inflation dynamics of the past decade persist, Reserve Bank of India deputy governor Poonam Gupta said on Tuesday. The remarks come in the backdrop of the government’s decision to renew India’s inflation targeting framework through March 2031, retaining the 4% headline CPI target with a tolerance band of ±2%.