Governor Shaktikanta Das gave a big statement on inflation, said- RBI is committed to bring down the inflation rate to 4 percent
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The central bank is careful to ensure that one event on inflation does not lead to a second order effect and so on. The government has entrusted the central bank with the responsibility of keeping inflation at 4 per cent, with an upside-down of up to two per cent.
New Delhi. Reserve Bank of India (RBI) Governor Shaktikanta Das on Tuesday said that the central bank is committed to bring down inflation to 4 per cent. He said that the RBI will keep an eye on the risks, as the management of prices can at times be affected by global supply shocks. Das said in a lecture at the Delhi School of Economics that the central bank is careful to ensure that there is no second order effect of one event on inflation and so on.
The government has entrusted the central bank with the responsibility of keeping inflation at 4 per cent, with an upside-down of up to two per cent. “Frequent episodes of food price shocks pose a risk to the stabilization of inflation,” the governor said. This is going on from February 2022. We will keep an eye on this aspect as well. ”He said that consistent and timely supply-side interventions by the government are important in limiting the severity and duration of food inflation.
He said that in these circumstances one has to be alert to any risk to price stability and it is necessary to take appropriate steps in time. “We are firmly focused on bringing down the inflation target to 4 per cent,” Das said without giving any timeline. He also said that inflation in July touched 7.4 per cent due to vegetable prices. It was, but now it is happening.
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