The Reserve Bank Of India is scheduled to announce the next monetary policy on April 1.
India Inc,while acknowledging the development,sought some relief on the interest rate front for propping up the economic growth.
RBI must keep its focus,resist being diverted from the objective of price stability
The impact of price rise as measured by the Wholesale Price Index (WPI) is found higher on rich class.
According to HSBC survey,business climate within the country remained tough.
Ministry it should be other way round with construction of an index that allows for progressively lower charges.
India inflation soars as onion prices jump a whopping 323% year on year in Sept,fruits 13%.
Majority of economists,polled in a survey,expect central bank’s focus to remain on rupee stability.
Inflation at 6.1% in August,markets shed gains after data release
The inflation was at 5.79 per cent in July and 8.01 per cent in August,2012.
Wholesale prices,India’s key inflation measure,probably rose an annual 5.80 per cent last month.
‘New CPI has 19 data points,which is not sufficiently long for a statistically robust analysis.’
Rising for the second consecutive month,inflation shot up to 5.79 per cent in July,driven largely by rise in prices of food articles,mainly vegetables,including onion.
Inflation based on WPI had stood at 4.86 per cent in June.
Wholesale price index rose by a slightly less-than-expected 4.7 percent in May.