Retail Inflation | Decline in retail inflation very satisfactory: RBI Governor Shaktikanta Das

Image-Twitter Mumbai. Reserve Bank of India (RBI) Governor Shaktikanta Das on Friday described the decline in retail inflation to 4.7 per cent in April as very satisfactory. He said that this instills confidence in the correctness of the monetary policy direction. According to data released by the National Statistical Office (NSO), retail inflation eased to an 18-month low of 4.7 per cent in April due to fall in food prices. This is its lowest level since October 2021. At that time it was 4.48 percent. Responding to the inflation data, Das said, “It is very satisfactory. This instills confidence that the monetary policy of the RBI is on the right track. The government has given the responsibility to the RBI to keep inflation within a range of 4 per cent with a margin of 2 per cent. To bring inflation under control, the RBI has increased the policy interest rate several times in the last one year, reaching 6.5 percent. However, in the last monetary review held in April, the central bank did not increase the repo rate. Also read: When asked whether the RBI would change its policy stance on interest rate with inflation coming down to 4.7 per cent, Das did not give a direct answer, saying that everything will be clear after the next review meeting on June 8. . However, the RBI governor expressed confidence that the central bank has full expectation and confidence that the real GDP growth rate in the current financial year will be 6.5 percent. He said that if India grows at the rate of 6.5 per cent, it will contribute 15 per cent to the global growth. Speaking at the release of the book ‘Made in India’ by Amitabh Kant, former CEO of NITI Aayog, Das said private investment is also witnessing a boom. For this, he specifically cited the example of steel, cement and petrochemical sectors. (agency)