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Economy
Published: Apr 10, 2023
Updated: Apr 10, 2023
The Reserve Bank of India (RBI) has projected a marginal easing in retail inflation to 5.2% for the current fiscal year, down from its February projection of 5.3%. However, Governor Shaktikanta Das has cautioned that the fight against inflation is far from over, and the outlook remains dynamic amid recent crude oil price jumps due to OPEC's decision to cut output. The RBI has the mandate to keep inflation at 4%, with a band of (+/-) 2% on either side.
For the June quarter, retail inflation is expected to average 5.1% and rise to 5.4% each in the September and December quarter. It is anticipated to decline to 5.2% in the March 2024 quarter.
Governor Das has noted that the central bank's war against inflation will continue until it is brought down to the target level. The inflation outlook remains dynamic and dependent on several factors, including the crude oil price, a normal monsoon, and global uncertainties.
Despite the marginal easing in inflation projected by the RBI, the fight against inflation is far from over. The central bank will continue to monitor the situation and take appropriate measures to bring inflation down to the target level. Investors and businesses should be prepared for continued inflationary pressures and take necessary precautions to manage their finances effectively
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