RBI Governor Shaktikanta Das: Reserve Bank of India Governor (RBI Governor) Shaktikanta Das has said a big thing on Friday regarding the Inflation Target. Many things have been mentioned regarding the growth of the country’s economy. Shaktikanta Das has described the Indian economy as stable in comparison to the global economy. According to media reports, the RBI governor, while attending an economy summit, said that in the current situation, it is too early to reconsider the inflation target of 4 percent.
He says that I do not think there is any need for any change in it. I don’t think there is a need to revisit the inflation target. He said, “It is too early to shift the goal post. The 4 percent target has a certain meaning. Under the rule, inflation needs to be kept in the 2 percent to 6 percent band with a target of 4 percent.”
decline in inflation
In the last year 2022, most of the inflation has been above the level of 6 percent. Inflation has come down in the last two months. RBI Governor Das says, “Globally there may be a reduction in the inflation target, but it would be premature to change its target. Looking at the average CPI figures of inflation from 2016 to 2020, it has been kept around 4 percent. .”
Inflation is a matter of concern
Das said that core inflation is still stable at over 6 per cent, which is definitely a matter of concern. He said, “The RBI needs to be very cautious in dealing with this. The governor said that for the time being, we have to focus on core inflation.”
see what are the figures
On the other hand, the Ministry of Statistics and Program Implementation has released data yesterday, January 12, which shows that India’s retail inflation rate came down to a one-year low of 5.72 percent in December from 5.88 percent in the previous month. Consumer Price Index (CPI) inflation is below expectation. However, the core inflation has been around 6.31 per cent.
