RBI Governor: Concerned about rising inflation, RBI Governor Shaktikanta Das worried

RBI Governor: Inflation has been increasing in the country for the last few days. RBI Governor Shaktikanta Das has expressed concern over rising inflation. Despite the increase in economic activity, the persistently high rate of inflation remains a matter of concern for the economy, Shaktikanta Das said. Policy rates were hiked by 0.50 per cent […]
 


RBI Governor: Concerned about rising inflation, RBI Governor Shaktikanta Das worried

RBI Governor: Inflation has been increasing in the country for the last few days. RBI Governor Shaktikanta Das has expressed concern over rising inflation. Despite the increase in economic activity, the persistently high rate of inflation remains a matter of concern for the economy, Shaktikanta Das said. Policy rates were hiked by 0.50 per cent earlier this month to check rising inflation. But till now there is no relief from rising inflation.

This information has been received from the meeting of the Central Bank’s Monetary Policy Committee (MPC) held on Wednesday. The six-member MPC, headed by Das, presented its economic policy review on June 8. In this, the key policy rate repo was increased for the second time in a row.

As per the details of the three-day meeting, Shaktikanta Das said that the high rate of inflation is a matter of concern. But the revival of economic activity is underway and gaining momentum. This is the right time to raise policy rates further to effectively tackle inflation. So I will vote in favor of increasing the repo rate by 0.50 per cent.

Das said that the repo rate should be raised to 4.9 percent.
The increase will increase the RBI’s commitment to price stability. The primary objective of the central bank is to control inflation. It is a prerequisite for sustainable development in the medium term. All the six members of the committee voted in favor of increasing the repo rate by 0.50 per cent to 4.9 per cent.

 

Inflation rate has been increasing in the country for the last few days due to rising fuel prices. The common man, who was earlier in trouble due to the corona pandemic, has now become a victim of inflation. That’s why many experts say that rising inflation is a matter of concern.