x

Like our Facebook Page

   
Early Times Newspaper Jammu, Leading Newspaper Jammu
 
Breaking News :   Doctors - The Unsung Heroes of Healthcare | WHEN RS 10 FEELS EXPENSIVE ON A CART, BUT NOT IN A CAFE | Urdu For Naib Tehsildar Recruitment Test | Yatri Niwas in Srinagar | LG Sinha inaugurates SASB Yatri Niwas at Pantha Chowk | LG launches campaign for zero-waste pilgrimage | 'Amarnath Yatra arrangements upgraded' | Heroin worth Rs. 420 crore seized in Rajasthan; Pak-based smuggler, Canada handler named | Within minutes after formation of PAC, NC mocks Sajad Lone’s new political front as ‘BJP’s B-Team’ | CM Omar calls for revival of buyer-creator relationship at SKICC Meet | Salal Dam gates opened amid rising Chenab Water levels | DGP chairs joint security review meeting in Anantnag, visits key areas | Major reshuffle in ACB J&K | From warzone to homeland: Kashmiri students hail India’s rescue mission with tricolour cheers | Security Forces bolster security with hi-tech gadgets | Token distribution for registration begins | Security Forces conduct joint mock drill | India woman footballer Soumya undergoes surgery after nasal bone fracture | Lack of variety in India's bowling attack is concerning: Chappell | National-level minor boxer alleges sexual harassment by woman coach | | MCM launches workshop on Skill Development, Entrepreneurship | GDC Kathua honours NCC Cadet Mohit Kanathia with grand welcome ceremony | Missing person traced from Pallanwala within 2 days | JKHCBAJ unveiles Portrait of Maharaja Hari Singh ji, inaugurated | Four JKAS Officers transferred In Transport Dept Reshuffle | J&K police arrest 87 in drug crackdown, seize narcotics worth Rs 2.42 Cr | Gross GST collections double in 5 years to record Rs 22.08 trillion in FY25 | Srinagar police attaches residential property worth Rs 50 lakh | SKUAST-K holds workshop in Gurez to promote revival of heritage crops | Reasi police solves two theft cases in Katra, accused arrested, stolen property | Union Minister Piyush Goyal to lead transformative FTII Traders conclave | Congress holds impressive Jai Hind Yatra in Poonch City, salutes armed forces, martyrs | Warm, affectionate farewell accorded to retirees of Agriculture Department Jammu | DC Shopian inspects work of rural development projects at Keller | Former JKNPP leaders, senior workers join Apni Party | Committee on Petitions holds meeting in Srinagar | 6000 students participate in NMMSS examination | Ladakh PM Vishwakarma artisans participate in MSME Day celebration | Vi Business’s ready for next - India’s largest digital advisory celebrates growth on MSME day | Indian Army pays tribute to Ex-Serviceman | Civil Defence, Jammu started 5 days CD training programme | Warm send off accorded to Sardar Dharminder Singh Bhargav Head Pharmacist from DHS-J | JKEDI concludes second batch of MDPs in 10 districts | Handicrafts, Handloom Deptt condoles demise of father of Mussrat Islam | IGNOU launches certificate programme for Nurse Managers to Strengthen Managerial Competencies in Nursing Services | Back Issues  
 
news details
Food price uncertainties to weigh on inflation trajectory, RBI retains FY'25 forecast at 4.5 pc
4/5/2024 11:44:22 PM
agencies
NEW DELHI, Apr 5: The Reserve Bank on Friday said food price uncertainties continue to weigh on the inflation trajectory going forward, even as it retained 4.5 per cent retail inflation projection for the current fiscal. In its first bi-monthly monetary policy for current fiscal, the RBI said notwithstanding the cut in petrol and diesel prices in mid-March 2024, the recent uptick in crude oil prices needs to be closely monitored. Continuing geopolitical tensions also pose upside risk to commodity prices and supply chains, RBI said.
"Assuming a normal monsoon, CPI inflation for 2024-25 is projected at 4.5 per cent," RBI Governor Shaktikanta Das said.
Although RBI retained the full year inflation projection, it tweaked the forecasts for the quarter.
RBI forecast April-June quarter inflation at 4.9 per cent and in September quarter at 3.8 per cent.
For December and March quarters, inflation is projected at 4.6 per cent and 4.7 per cent, respectively. The RBI said that deflation in fuel is likely to deepen in the near term, following the cut in LPG prices in March.
The government last month announced a steep cut of Rs 100 in cooking gas LPG prices to ease the financial burden on households. Also, public sector oil retailers cut petrol and diesel prices by Rs 2/litre, ending a nearly two-year-long hiatus in rate revision.
"Food price uncertainties continue to weigh on the inflation trajectory going forward. A record rabi wheat production would help temper price pressure and replenish the buffer stocks. Moreover, early indication of a normal monsoon augurs well for the kharif season," RBI said. RBI said inflation has come down significantly but remains above the 4 per cent target. Food inflation continues to exhibit considerable volatility impeding the ongoing disinflation process.
"Our ongoing effort is to ensure fuller transmission of policy actions and anchoring of household inflation expectations. The strong growth momentum, together with our GDP projections for 2024-25, give us the policy space to unwaveringly focus on price stability," RBI said. The RBI has the mandate to contain retail or consumer price index (CPI) inflation at 4 per cent, within a band of +/-2 per cent. Das said two years ago, around this time, when CPI inflation had peaked at 7.8 per cent in April 2022, the elephant in the room was inflation.
"The elephant has now gone out for a walk and appears to be returning to the forest. We would like the elephant to return to the forest and remain there on a durable basis.
"In other words, it is essential, in the best interest of the economy, that CPI inflation continues to moderate and aligns to the target on a durable basis. Till this is achieved, our task remains unfinished," Das said.
The retail inflation in February was 5.1 per cent, while inflation in the food basket was at 8.66 per cent.
For the 2023-24 fiscal, RBI has projected average retail inflation at 5.4 per cent.
  Share This News with Your Friends on Social Network  
  Comment on this Story  
 
 
 
Early Times Android App
STOCK UPDATE
  
BSE Sensex
NSE Nifty
 
CRICKET UPDATE
 
 
 
 
 
 
 
 
   
Home About Us Top Stories Local News National News Sports News Opinion Editorial ET Cetra Advertise with Us ET E-paper
 
 
J&K RELATED WEBSITES
J&K Govt. Official website
Jammu Kashmir Tourism
JKTDC
Mata Vaishnodevi Shrine Board
Shri Amarnath Ji Shrine Board
Shri Shiv Khori Shrine Board
UTILITY
Train Enquiry
IRCTC
Matavaishnodevi
BSNL
Jammu Kashmir Bank
State Bank of India
PUBLIC INTEREST
Passport Department
Income Tax Department
JK CAMPA
JK GAD
IT Education
Web Site Design Services
EDUCATION
Jammu University
Jammu University Results
JKBOSE
Kashmir University
IGNOU Jammu Center
SMVDU