RBI has retained its inflation projection at 5.4% for the current year. Uncertainties in food prices and volatility in global crude oil prices continue to keep 4% target out of reach.
Geopolitical conflicts & new cold war have upended oil, various food and commodity markets. Climate-change issues will impose other costs. So, prices will rise even if demand is weak.
The US military operation in Venezuela raises global concern. Experts say that Trump’s action could weaken global legal standards and fuel geopolitical instability.
The latest comment comes as New Delhi and Washington have yet to sign a trade agreement. India’s purchase of Russian oil has reduced, but Moscow remains top source for crude.
If deal goes through, Greece will be 2nd foreign country to procure vehicle. Morocco was first; TATA Group has set up manufacturing unit there with minimum 30 percent indigenous content.
Many of you might think I got something so wrong in National Interest pieces written this year. I might disagree! But some deserve a Mea Culpa. I’d deal with the most recent this week.
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