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RBI Governor Shaktikanta Das on Saturday said inflation is expected to moderate gradually in the second half of the financial year 2022-23. This can also give relief to the people from inflation. This has also reduced the chances of a major recession in the economy.
The RBI Governor has said that the market looks good from the supply side and several high frequency indicators are pointing to a recovery in the first quarter (April-June) of 2022-23. RBI Governor has said that our current assessment is that inflation may moderate gradually in the second half of 2022-23. RBI Governor Shaktikanta Das said these things during Kautilya Economic Conclave.
The RBI governor has also said that the current era is of globalization of inflation. The whole world is being affected by this. The RBI Governor said that the economy affected by the Corona epidemic has started improving but inflation still remains a major problem. It is still above the estimates of central banks.
Let us tell you that to deal with rising inflation, RBI has increased the repo by about 4.9 percent (90 basis points) since last May. It is expected that the RBI’s rate setting panel may also take a decision to increase the policy rates in the meeting to be held in August.