Good news: relief from boundless inflation, worst may over: RBI

RBI inflation Rate News


The good news: He says the MPC is focused on getting inflation as close to the 4 percent target as possible.


Good News: Relief from skyrocketing inflation next month. Reserve Bank of India (RBI) Monetary Policy Committee (MPC) member Jayant R Verma made the statement. He said on Wednesday that the biggest risk to India’s economic growth outlook is the escalation of geopolitical tensions. Verma also said that inflation and its growth potential are projected to be on the decline and high inflation would certainly not be the ideal situation in the country. Citing several reasons, he is cautiously optimistic about the Indian economy.

The target is to bring the rate of inflation to 4 percent
Explaining that the MPC is determined to bring the inflation rate closer to the 4 percent target as soon as possible, Verma said high inflation would certainly not be the norm in India. The Reserve Bank raised the repo rate by 0.50 percent to 5.40 percent in its MPC meeting in August to control inflation. The MPC member said that inflation and fears about it seem to be decreasing gradually. India and globally and it will not be one of the major detractors of the Indian economy.

The global crisis is the biggest risk to growth

Regarding the challenges of the domestic economy, he said, in the current situation at the global level, the country’s exports are not as encouraging as before. Verma, from the point of view of economic growth, highlighted the biggest risk is the escalation of geopolitical crises and especially if these tensions or crises arise in the Asian region. He said that inflation will be above the target in several quarters.
But believe it or not, the hardest times are over. Unless the world suffers another unexpected catastrophe

The target is to bring the rate of inflation to 4 percent
Explaining that the MPC is determined to bring the inflation rate closer to the 4 percent target as soon as possible, Verma said high inflation would certainly not be the norm in India. The Reserve Bank raised the repo rate by 0.50 percent to 5.40 percent in its MPC meeting in August to control inflation. The MPC member said that inflation and fears about it seem to be decreasing gradually. India and globally and it will not be one of the major detractors of the Indian economy.

The global crisis is the biggest risk to growth

Regarding the challenges of the domestic economy, he said, in the current situation at the global level, the country’s exports are not as encouraging as before. Verma, from the point of view of economic growth, highlighted the biggest risk is the escalation of geopolitical crises and especially if these tensions or crises arise in the Asian region. He said that inflation will be above the target in several quarters.
But believe it or not, the hardest times are over. Unless the world suffers another unexpected catastrophe

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