An increase in the benchmark lending rates by the Reserve Bank of India (RBI) and the prospect of a good monsoon will help in controlling inflation.
An increase in the benchmark lending rates by the Reserve Bank of India (RBI) and the prospect of a good monsoon will help in controlling inflation. Sanjeev Bajaj, the newly elected President of the Confederation of Indian Industry (CII), said this on Monday.
reserve Bank of India (RBI) Benchmark Lending Rates by (Repo Rate) increase and better Monsoon This will likely help in controlling inflation. Sanjeev Bajaj, the newly elected President of the Confederation of Indian Industry (CII), said this on Monday. Bajaj, in his first press conference after taking over as CII chief, said he is confident that they are now in the era of high interest rates. He said that this would give us inflation (Inflation) will help to reduce Bajaj said that we should be in a better position due to various factors along with the possibility of a good monsoon. And in the second half of the year, policymakers will decide whether inflation and interest rates (Interest Rates) How’s that move.
Bajaj further said that there are two sides to inflation – demand and supply side. He said that RBI has already started the cycle of raising interest rates and we should expect a hike in interest rates in the coming year.
GDP growth expected to range between 7.4 – 8.2%: CII
Bajaj further said that we would expect a clear direction from the central bank on how they will decide on interest rates. We hope to hear from him about this in the next policy review.
CII estimates that India’s Gross Domestic Product (GDP) growth rate will be between 7.4 – 8.2 percent, depending on global oil prices.
Let us tell you that retail inflation has reached a new high of 8 years. According to the data released during the last week, the retail inflation rate has reached 7.79 percent in April. This jump in inflation has been seen due to the rise in the prices of food items and oil. This level of retail inflation is the highest level ever since May 2014.
In May 2014, the retail inflation rate reached 8.33 percent. This is the fourth consecutive month when the retail inflation rate has reached above the limit set by the Reserve Bank. With the rise in retail inflation, the possibilities have increased that in June, the Reserve Bank will increase the key rates further to bring inflation under control.
(with language input)
Source: www.tv9hindi.com
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