Key Points
A day after India's CPI inflation touched over 2-year low of 4.25%, RBI governor Shaktikanta Das on Tuesday said, the disinflation process is likely to be low..
However, in all likelihood, he sees India to remain remain among the fastest growing large economies in 2023...
At the Summer Meetings organised by Central Banking, London, UK, Shaktikanta Das said, "the cumulative impact of our monetary policy actions over the last one year is still unfolding and yet to materialise fully." . RBI has lowered its CPI inflation projection to 5.1% for the fiscal year 2023-24..
Central banks have navigated through unchartered waters during the three black swan events the pandemic, the war in Ukraine and the unprecedented scale and pace of global monetary policy normalisation all in the span of three years. . Further, he mentioned, "more recently, central banks had to quickly change gears from providing stimulus to pandemic ravaged economies to battling inflation with all ammunition at their disposal..
However, Das also said, it pertinent to note that Indias growth in the last few years is mainly driven by robust domestic demand, especially private consumption and investment, amidst the global slowdown. ..
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