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Remove food from inflation-targeting framework, explore options: Eco Survey

Business Standard LogoBusiness Standard11h ago

Remove food from inflation-targeting framework, explore options: Eco Survey - Business Standard

Quick Summary:

The Reserve Bank should stop looking at food inflation in deciding interest rates and the government should explore giving coupons or direct cash transfer to poor to deal with higher food prices, the pre-Budget economic survey said on Monday.

While the inflation rate has moderated in recent months, the RBI has refrained from cutting benchmark interest rates -- which decide the rate at which home, personal and corporate loans are given by banks -- citing elevated food inflation.

India introduced the inflation-targeting framework in 2016 under which the Reserve Bank of India (RBI) is mandated to keep retail inflation at 4 per cent, with a margin of 2 per cent on either side.


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Article Details

Category: BusinessFinance

Markets:

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Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-22 @ 16:20:38 (11 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 547 words

Reading Time: 4 minutes read

Sentences: 17 lines

Sentence Length: 33 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Standard

News ID: 21725864

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Main Topics: BusinessFinance

Official Website: business-standard.com

Update Frequency: 336 posts per day

Year Established: 1975

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News Last Updated: 3 hours ago

Coverage Areas: India

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Publisher ID: #49

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