Shaktikanta Das: There is ongoing turmoil in the Indian economy. FIIs are leaving the country. Due to this, a huge decline is also being seen in the stock market for the last several days. Inflation figures are also going upwards. However, RBI Governor Shaktikanta Das is confident that inflation can be controlled. He said that due to many problems going on in the world, there is pressure on inflation. But, there is harmony between inflation and growth in the country. Indian economy is in a strong position. Inflation will be controlled by the fourth quarter of the current financial year.
Monetary Policy Committee’s focus on inflation
According to Shaktikanta Das, due to weather uncertainty and geopolitical problems, the inflation figure has gone above our target of 4 percent. There will be improvement in this during the January-March quarter. Addressing the Macro Week 2024 organized in Mumbai, he said that the stability and strength of the Indian economy has given the Monetary Policy Committee the opportunity to focus on inflation besides interest rates. Despite the ill effects of Covid 19, we have maintained an economic growth rate of around 8 percent for the last three financial years. It is expected to be around 7.2 percent in the financial year 2025 also.
IMF World Bank cautious about economic crisis
RBI Governor said that domestic demand is increasing. Besides, manufacturing is also increasing in the country. Private investment is also increasing in the country. The government has focused on increasing capital expenditure and keeping the financial health of banks strong. NBFCs are also performing better. The corporate sector is also contributing to the progress of the country by increasing investment. Due to development in agriculture sector, demand is expected to increase in rural areas also. The International Monetary Fund (IMF) and the World Bank are working together to deal with the economic crisis arising in the world.
read this also
Dhanteras: Gold made investors rich before Dhanteras, know whether to buy it in this festive season or not
