Fri. Aug 12th, 2022

NEW DELHI: The runs batted in remained true to growth and inflation forecasts for the year, but issued a strong note of caution on the overall price situation, citing multiple factors including evolving geopolitical developments, commodity prices and the monsoon.

The monetary policy committee (MPC) headed by Governor RBI Shaktikanta Das consoled himself with the signs of “expansion” of economic activity to maintain the projection of GDP growth at 7.2%. But the inflation estimate for the current and subsequent quarters was reworked, although for the full year it will remain at 6.7%, well above the central bank’s 6% tolerance zone. But the projection for the current quarter has been revised down from an estimated 7.4% in June to 7.1% now. In the other one…

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