The Reserve Bank's inflation projections, Das said, are 'robust' but contingent on downside and upside risks is associated with the movement of global crude oil prices.
The finance minister said that discussions with the RBI regarding the Central Bank Digital Currency were going on prior to the Budget announcement, and they are continuing.
FM Sitharaman, in her Budget speech, had announced that RBI will introduce Central Bank Digital Currency in next financial year to boost digital economy & currency management.
With the second term of three years, Das will head the RBI till December 2024. The decision was taken by the Appointments Committee of Cabinet headed by PM Narendra Modi.
Speaking at an event Wednesday, the RBI Governor said restoring the durability of private consumption, the mainstay of aggregate demand, will be 'crucial' in the post-pandemic future.
RBI Governor Das further said the central bank will seek to gradually move towards achieving the 4% target, but the possibility of a sustained increase in inflation is unlikely.
While speaking at an event, RBI governor said the fine-tuning operations was done so that liquid conditions in the system evolve in a balanced and evenly distributed manner.
MPC external member Jayanth R Varma voted against RBI's accommodative stance and argued for raising money market rates towards repo rate of 4 % from currently 3.35%.
MoSPI proposes to remove closed factories from IIP sample, aiming for truer picture of India’s industrial health in upcoming 2022–23 base series. Plan open to public feedback until 25 November.
Bihar is blessed with a land more fertile for revolutions than any in India. Why has it fallen so far behind then? Constant obsession with politics is at the root of its destruction.
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