While alignment with the inflation target is gradually occurring, incoming data will provide greater clarity and confidence on the disinflation path, the RBI said.
Restrictive interest rates expected to weigh on demand, regulatory actions aimed at controlling unsecured lending, & lower fiscal deficit to contribute to the moderation, says report.
Apart from these factors, in the new year, food prices will continue to be vulnerable to global uncertainties & weather events, while household borrowings from banks will remain steady.
Reuters had estimated the wholesale price index for September would rise 0.5%. It fell 0.52% in August. Last week, data showed India’s retail inflation eased to 3-month low in September.
After a 7.8% expansion last quarter, economic growth was expected to moderate to 6.4% this quarter and then drop to 6.0% innext quarter before slowing to 5.5% in early 2024.
Food price inflation rose to 11.5% in July, its highest in more than 3-1/2 years, while India is set to receive its sparsest monsoon rains in eight years.
The ‘Mood of the Nation’ survey said Modi is far ahead of Rahul Gandhi with a 36-point lead as the candidate best-suited to be the next prime minister if elections are held now.
The Press in a liberal democracy has to be a forum for the expression of different points of view. It must not suppress, taint or adulterate news, wrote Sachin Sen in 1960.
Rosneft, the Russian state-owned oil behemoth, has large interests in India. Reliance has a contract to purchase 500,000 barrels of crude per day from the firm.
Fresh details of operation conducted by IAF, Army have come out in gazette notification giving citations of those who were awarded Vir Chakra for their bravery.
On 21 Oct, a buzz went up that the govt had released full list of gallantry award recipients along with Op Sindoor citations. I put an AI caddy on the job. It took me into a never-ending rabbit hole.
COMMENTS