There is no relief from the high inflation in the country for the last 9 months. This is having an impact on consumption and investment. RBI's Monetary Policy Committee (MPC) member Shashank Bhide said that the rate of retail inflation has remained high for the last three quarters due to external pressures i.e. imported inflation. To deal with this, better policy efforts are necessary.
Bhide said the high prices of fuel and food items and their impact on other sectors have kept the rate of inflation high. Inflation pressure is very high. It is certainly a test for India's inflation-tackling framework. Inflation remained high in the second quarter of 2022-23. Due to this, its rate was also higher in the last two quarters. Retail inflation has remained above 6 percent since January 2022. It was 7.41% in September.
Steps to be taken to limit the effect of external pressures
The MPC member said that it is necessary to take steps to limit the impact of external pressures on inflation and the economy. Dealing with these issues will require coordinated policy efforts, monetary policy, and other economic policies. The purpose of RBI's monetary tightening i.e. increase in the repo rate is to reduce the inflationary pressure.
The increase in the repo rate has increased the cost of debt. To this, the expectation of lower inflation will help in improving the demand situation.
New challenges in the path of development
On India's current macroeconomic situation, Bhide said, "The risk comes from the uncertain global environment. However, the domestic economy has shown resilience in getting back on the growth path even after going through several waves of the pandemic.
Challenges that are emerging include declining export demand, volatility in financial markets, and uncertainty as a result of the Ukraine war.
Elvish Yadav: Elvish was welcomed with Halwa-Puri in jail! Users said – 'System' is running there too
Finally, after 135 days, the system of Bigg Boss winner Elvish Yadav got hung. Despite all efforts and having an army of lawyers, Noida Police arrested Elvish Yadav on Sunday. Apart from the Wildlife
Despite being such an expensive phone, the camera of another company is used on the iPhone! CEO Tim Cook himself disclosed
Apple iPhone Camera: Many people are crazy about the camera of the iPhone. Some people want to buy iPhones only because of the camera. Apple iPhone is always included in the better camera smartphone
Jammu Kashmir: Ruckus in the assembly over PDP's proposal to remove Article 370, Abdul Rahim Rather elected speaker
The five-day session of the Jammu and Kashmir Assembly has begun. The session began with the address of Lieutenant Governor Manoj Sinha this morning. During this, there was a lot of uproar in the
India will not tolerate attempts to change LAC: Foreign Minister warns China in Rajya Sabha
Today is the second day of the winter session of Parliament. On the first day of the session, External Affairs Minister S Jaishankar gave a blunt message to China. He said that India will not tolerate
'Neither do one-time roti, nor getting loan', why PAK is wandering from door to door, why change its tone; Wants to improve relations with India?
Pakistan, which tried to show eyes to India, has run out of air. The condition of the neighboring country is completely pathetic and even more so the people of Pakistan-Occupied Kashmir (PoK) are
Reshuffle of portfolios of ministers in Haryana this month: The power of 4 ministers including the Deputy CM will decrease; Suspicion of Anil Vij, CM will be strong
After the merger of departments in the Haryana government, the power of 4 ministers including Deputy CM Dushyant Chautala will decrease. At the same time, before the assembly elections next year,
Joshimath Crisis: The situation became more dangerous, crack was marked in 14 new buildings in 24 hours, and 10 families shifted
Joshimath Crisis: Cracks continue to grow in houses in disaster-hit Joshimath. Cracks were identified in 14 new buildings in the last 24 hours. With this, the number of red-marked unsafe buildings has
WFI Suspended: Membership of the Indian Wrestling Federation was suspended on the world stage, United World Wrestling took the decision
United World Wrestling (UWW) has suspended the membership of the Wrestling Federation of India (WFI) indefinitely. The reason behind the non-election of the post of president has come to the fore. WFI
Father Shakti Kapoor danced to Shraddha Kapoor's song: Actress shared the video and said - Bapu thumka laga rahe ho
Ranbir Kapoor and Shraddha Kapoor's film 'Tu Jhoothi Main Makkar' is going to release soon. In such a situation, both the stars are promoting the movie in full swing. Meanwhile, the film's new track
Gyanvapi Case: No stay on ASI survey in Gyanvapi, Muslim side got a blow from Allahabad High Court
The Allahabad High Court has dismissed the petition of Anjuman Intejamia Masajid Varanasi against the order of the Varanasi District Judge to conduct a scientific survey by ASI in the Gyanvapi campus.
