RBI revises inflation outlook for 2023-24, sees “substantial increase” in near-term
Back in May, the retail inflation was at a two-year low of 4.25 per cent. It was at 4.7 per cent in April and 5.7 per cent the previous month.
Back in May, the retail inflation was at a two-year low of 4.25 per cent. It was at 4.7 per cent in April and 5.7 per cent the previous month.
This decision comes after months of increasing the rate with the intention to cool the economy and marks the return to a more traditional interest-rate policy.
Das said government revenues have been impacted severely due to the slowdown in economic activity amid the pandemic.
