RBI’s actions will usher in an era of prosperity: Das

RBI Governor Shaktikanta Das expressed optimism that inflation would come down during October-April of the current fiscal (FY 2022-23).

He also assured a flexible approach to monetary policy making.

“At this point of time, with the supply outlook appearing favourable and several high frequency indicators pointing to resilient recovery in the first quarter (April-June) of 2022-23, our assessment is that inflation may ease gradually in the second half of 2022-23, precluding the chances of a hard landing in India,” Das said, while addressing the Kautilya Economic Conclave organised by the Finance Ministry and the Institute of Economic Growth here.

Retail inflation based on the Consumer Price Index (CPI) has been over 6 per cent in recent months, with April recording an eight-year high of 7.9 per cent. At the same time, producers inflation based on the wholesale price index (WPI) was at a nearly four-decade high of 15.8 per cent in May.