Government’s reluctance to import wheat can upset MPC’s calculations
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Photo By Agrihunt
The Reserve Bank of India (RBI) has delivered a status quo policy, as was widely expected. Rightly so. Its six-member interest rates-setting committee that met from the 4-6 October decided unanimously to keep the policy repo rate unchanged at 6.50%, noting that the heightened Consumer Price Index (CPI) inflation levels in July and August at 7.4% and 6.8%, respectively, were largely driven by food price pressures.
