Urjit Patel cautions on inflation front

According to RBI governor Urjit Patel, India’s recent success in containing inflationary pressures needs to be viewed in the context of entrenching macroeconomic stability, in which the government played a decisive role as it managed price pressures in some key food items.

The new monetary policy framework has been playing an important role in shaping inflation expectations and outcomes, Patel said in a speech recently.