look news india
It is important to keep an eye on the prices of vegetables this summer as the Indian Meteorological Department has predicted extreme heat, Reserve Bank of India Governor Shaktikanta Das has said.
Speaking to reporters after announcing the first bi-monthly monetary policy for fiscal year 2024-25, Das said the main objective of the RBI is to bring the inflation rate below the government's target of four percent on a sustainable basis. , The last stage is very challenging.
In response to a question asked by the Indian Meteorological Department about the severe heat that hit many parts of the country till June this year, Das said that we will have to see how much effect the extreme heat has on food crops.
Das said that there is no problem regarding the wheat crop and most of the harvesting work has been completed. However, he urged to keep an eye on the prices of vegetables.
Deputy Governor Michael Patra said food inflation has been most volatile in recent times and the reasons for the increase are changing. We are focusing on ensuring that this does not impact the remaining factors of the Consumer Price Index (CPI).
Patra said that inflationary pressure is being created on eggs, meat, fish and rice. Food inflation has also seen a rise in recent times due to increase in prices of food grains and vegetables.
Asked about the timing of inflation, he said inflation may go below four per cent in some quarters of fiscal year 2024-25 but it may rise again.
