The Russia-Ukraine war has a major role in the rising inflation in the country, SBI economists claimed on Monday. He said that 59 percent of the geopolitical tensions caused by the ongoing war between Russia and Ukraine contributed to the rise in inflation. SBI economists said that in the period of rising inflation, the inflation figure reached the level of 7.8 percent in April. He said that the RBI is once again ready to increase the repo rate to 5.15 percent before the epidemic.
Taking February as the basis, the effect of the Russo-Ukraine war on inflation has been studied. It has been found in this research that due to the ongoing war between these two countries, inflation in food, fuel, light, and transport has increased by 52 percent. Apart from this, due to the increase in input cost in the FMCG sector, the prices of commodities have increased by up to seven percent.
According to SBI Ecowrap, economists say that there is no hope of getting relief from rising inflation at the moment. At the same time, he says that there is a difference in the rising prices in urban and rural areas. The reason behind the increase in inflation in urban areas is an increase in the price of petroleum, whereas, in rural areas, the most effective has been seen due to an increase in food prices.
According to a report by SBI, by August, the central bank will increase the repo rate by 75 bps or 0.75 percent. The second meeting of this financial year will be held in June and the third meeting in August. The report said that the RBI will increase the repo rate to 5.25 percent. It is currently at 4.5 percent. After August, the matter of increasing the rates may slow down a bit.
Along with this, economists have also asked RBI to look into the steps being taken by it. SBI economists have also asked SBI to look into whether these steps can bring down inflation in a meaningful way if the war-related standoff between Russia and Ukraine is not resolved soon.
Today the world's population will be 8 billion, the UN expressed its estimate; See these major figures regarding the global population
According to the estimates of the United Nations, on Tuesday (November 15), the world population will reach 8 billion. It is a milestone in the life of human development. United Nations projections
Chips for Viksit Bharat: PM Modi laid the foundation stone of Tata-PSMC chip plant worth crores of rupees, said - India is creating history today
Chips for Viksit Bharat: Prime Minister Narendra Modi participated in the program 'India's Teched: Chips for Developed India'. During this, PM Modi laid the foundation stone of three semiconductor
Delhi Liquor Scam: A case will be filed against Kejriwal and Sisodia in a money laundering case, ED gets approval from the Home Ministry
Amid the Delhi Assembly elections, the troubles of Aam Aadmi Party convener Arvind Kejriwal and former Deputy Chief Minister Manish Sisodia seem to be increasing in the money laundering case related
E-Commerce Platform: E-commerce's key role in increasing the profit of MSMEs
E-commerce platforms have helped the Micro, Small, and Medium Enterprises (MSME) industry to increase profits, reduce marketing expenses, and access new markets. Union Minister of State Bhanupratap
Rule Change: Changes are going to happen in these rules from today, know what will be the effect on your pocket?
New Rule From November: On November 1, many big changes are going to happen in the country, which is going to have a direct impact on the pocket of the common man. In such a situation, it is important
JEE Main Admit Card 2023: Admit card for JEE Main April session released, download from this link
JEE Main Admit Card 2023 Session 2: The admit cards of the candidates who applied for appearing in the second phase of JEE Main entrance examination to be held on April 6 have been issued. The admit
India-Pak Tension: After Operation Sindoor, news of explosion-like sound in Lahore, Pakistan, on high alert
After the Indian Army's Operation Sindoor on Pakistani terrorist hideouts, there is news of a blast in Lahore today. According to media reports, several sounds of explosions were heard near Walton
Parliament: Parliament's approval for the Family Court Amendment Bill, will get statutory recognition in Himachal and Nagaland
The Family Court (Amendment) Bill was passed in Parliament on Thursday. Law and Justice Minister Kiren Rijiju introduced the amendment bill in Rajya Sabha. Explaining the need for amendment, he said
PM Modi will address the 'India Mobility Global Expo 2024' program today, exhibitions will showcase India's potential
Prime Minister Narendra Modi will address an event of India's largest and first-of-its-kind transport-connectivity exhibition – India Mobility Global Expo 2024 at Bharat Mandapam, New Delhi on
Caution: New traffic rule for motorcyclists, scooter riders, warning also issued
The Traffic Police has issued a notification today making helmets mandatory for those who sit on the back seat of motorcycles and scooters. And also warned of action for violating this rule. This new
