RBI lowers inflation forecast for 2023-24 to 5.1 percent
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In the monetary review meeting of April, the consumer price index based inflation was estimated at 5.2 per cent in 2023-24. In April this year, consumer price index based inflation has come down to 4.7 per cent from 6.4 per cent in February.
Mumbai The Reserve Bank of India has marginally reduced its inflation forecast for the current financial year (2023-24) to 5.1 per cent. Reserve Bank Governor Shaktikanta Das gave this information while announcing the results of the Monetary Policy Committee (MPC) meeting on Thursday. Das said that the monetary policy measures of the central bank are yielding desired results. In the monetary review meeting of April, the consumer price index based inflation was estimated at 5.2 per cent in 2023-24. In April this year, consumer price index based inflation has come down to 4.7 per cent from 6.4 per cent in February.
Inflation has come down on a favorable base effect and moderation in all three major groups. Das said, “Consumer inflation in India has moderated during March-April, 2023 and has come within a satisfactory range of two to six percent of the Reserve Bank. It was 6.7 per cent in 2022-23. “He said,” Core inflation still remains above the target and is expected to remain above the target in the remaining months of 2023-24 as well. The inflation outlook in 2017-19 calls for a continued and close watch, especially given that the monsoon outlook and the impact of El Nino are still uncertain. The Reserve Bank estimates that consumer price index based inflation will be 5.1 percent in 2023-24. It may be 4.6 percent in the first quarter, 5.2 percent in the second quarter, 5.4 percent in the third quarter and 5.2 percent in the fourth quarter.
Disclaimer:IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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