Inflation is expected to be less than 7 percent in October – RBI Governor Shaktikanta Das

RBI Governor: Recently, the Reserve Bank has held an off-cycle MPC meeting regarding the concern of inflation and the government is also keeping an eye on the inflation data. In such a situation, Reserve Bank of India Governor Shaktikanta Das has said that both the RBI and the government are effectively dealing with the challenge of inflation. In the midst of global upheavals, India’s overall macro-economic fundamentals remain resilient and the country will definitely benefit from it.

Inflation expected to be below 7 per cent in October: RBI Governor
RBI Governor Shaktikanta Das has said in a program today that the inflation rate (inflation rate) is expected to be less than seven percent in the month of October. Despite discussions about changing the target of keeping the inflation rate in the range of 2 to 6 percent in the country, no need is being felt to change this target.

The challenge is also in front of the Reserve Bank
Shaktikanta Das also said that there is a big challenge before us in the form of inflation and if the inflation rate remains above 6 percent for three consecutive quarters, then it is considered a failure of monetary policy. If it remains like this for three consecutive quarters, then RBI has to write a letter to the government to tell when the inflation rate will be able to come back to the target set by RBI.

Why inflation target was decided
The RBI governor mentioned that there is a reason behind the inflation target being kept at 4 per cent. RBI’s internal committee did a detailed analysis and found that a target of 4 per cent inflation with a price band of +- 2 per cent was at that time and even at the present time, too high for India’s growth rate. Looks to be in harmony with.

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