Key Points
New Delhi, Jun 24 (PTI) With retail inflation nearing the RBIs target of 4 per cent, the monetary policy needs to shift focus on promoting growth, RBI MPC member Jayanth R Varma said on Monday.. Varma further said CPI inflation in 2024-25 is projected to be only about 0.5 percentage point above target, and core inflation is extremely benign...
The protracted period of intolerably high inflation is coming to an end over the next few quarters, we will see further disinflation and inflation will reach the target of 4 per cent on a sustained basis, he told PTI...
Varma, a professor at the Indian Institute of Management (IIM, Ahmedabad) noted that the fight against inflation has understandably come at a cost to growth...
He said that during the last few years, the government has taken several policy measures including digitalization, tax reforms, and higher infrastructure investment to boost the economic growth rate to its potential of 8 per cent...
The RBI, which has been mandated to ensure inflation remains at 4 per cent (with margin of 2 per cent on either side), mainly factors in CPI while arriving at its monetary policy..
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