The Reserve Bank has lowered its GDP growth target to 6.8 percent, from 7 percent in September . The Reserve Bank has lowered its GDP growth target to 6.8 percent .
New Delhi: Because the worst of inflation has passed, the Reserve Bank today expects inflation to fall below the upper threshold of 6% by the end of the current fiscal, but it admits that there is no reason to be complacent in the fight against price rise.In its monetary policy report, RBI Governor Shaktikanta Das said that inflation will remain above the RBIs upper tolerance threshold of 6% for the next ten months and that inflation is forecast to rise to 4%.We will keep Arjunas eye on the changing inflation landscape, and be able to respond as may be required, according to Shaktikanta Das, the RBI's interest rate-setting committee.The RBI said on Wednesday that its actions will be nimble keeping the aspect of development in mind.The Reserve Bank has lowered its GDP growth target to 6.8 percent, from 7 percent in September, and projected volatility in the financial markets will contribute to higher price increases, particularly as firms pass on input costs, according to Shaktikanta Das.
Risiken from adverse weather events contribute to the uncertainty in the forecast, according to Shaktikanta Das, who said inflation is cooling globally due to the softening of the commodity and oil prices, but that we must not be complacent despite positive inflation data.In the post-monetary policy press conference, he said that the worst of inflation is behind us.