RBI's new Guv initiates review of inflation, growth forecasting tools

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RBI's new Guv initiates review of inflation, growth forecasting tools - Business Standard

Quick Summary:

For this, it could include trends in small-ticket digital payments as well as data from food delivery apps and online taxi aggregators, both sources said.

The RBI is seeking to widen data collected on India's informal economy, which is currently inconsistent and difficult to use to make accurate forecasts, a second source aware of the discussions said.

At the December policy meeting, the RBI cut its growth forecast sharply to 6.6 per cent from 7.2 per cent for 2024-25, while retail inflation projections were raised upwards to 4.8 per cent versus 4.5 per cent earlier.