RBI's MPC meeting begins amid inflation worries
Mumbai: The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) began its three-day meeting in Mumbai today to review the country's policy rate.
Chaired by RBI Governor Shaktikanta Das, the meeting will conclude on Wednesday, December 6. The policy decisions will be announced the same day, news agency ANI reported.
This meeting comes against a backdrop of pressing economic concerns, including slower-than-expected GDP growth, persistent inflation, and a decline in production levels, which have sparked widespread public debate.
Rising food prices, especially vegetable prices, have been a constant worry for the RBI
Ashok Gulati, a prominent agricultural economist and Professor at the Indian Council for Research on International Economic Relations (ICRIER), highlighted that vegetable inflation lies beyond the central bank's influence, according to the report.
He also pointed to second-quarter GDP data, suggesting the RBI has been cautious in adjusting policies like the repo rate.
Nevertheless, Gulati underscored that the RBI still has time to implement necessary corrections and take decisive action to address current economic challenges.
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