The government and RBI could consider lowering the inflation target and narrowing the tolerance band if growth remains robust and prices remains stable over the next five years, RBI deputy governor Poonam Gupta has said even as she defended the 4% inflation targeting framework with the plus or minus 2% leeway. However, if the global environment remains as challenging as it has been during the past six years, it would warrant both predictability and flexibility inherent in the existing framework, she said while addressing the a seminar on ‘Inflation targeting framework and regional economic outlook for Asia and Pacific’ organised by the policy think-tank NCAER in New Delhi on Tuesday.