India Flags Rate Hikes, Tax Cuts in Coordinated Inflation Fight

India’s economic leaders are undertaking a coordinated attack on inflation, with fiscal and monetary authorities seeking to slow price increases and blunt the impact of higher costs on consumers.

The joint moves come as inflation in Asia’s third-largest economy tracks at an eight-year high, breaching the central bank’s target for the past four months, and as markets test the ability of policy makers to smooth currency moves and keep borrowing costs in check.