if you If you are troubled by rising kitchen expenses due to skyrocketing inflation, then this news can give you relief. The prices of food items may start decreasing from this month. This will not only reduce the budget of the kitchen and also save money. In fact, Reserve Bank of India Governor Shaktikanta Das expressed hope that the decline in retail inflation could begin from this month. He said this citing the central government’s steps regarding reduction in the prices of vegetables like tomatoes as well as restrictions on the export of non-Basmati rice and reduction in the prices of LPG cylinders used in homes.
Inflation will come down from September
The Governor of the Reserve Bank said, “We expect that retail inflation will start declining from September.” Although the (retail) inflation rate in August will be very high, but inflation may start coming down from September. He said that the prices of tomatoes have already fallen and the retail prices of other vegetables are also expected to come down from this month. Is. Das said the government has taken several steps to ensure supply of tomatoes and other essential commodities to the people at affordable prices. He said, “Restrictions have been imposed on the export of non-Basmati rice. The prices of LPG cylinders used in homes have recently been reduced.” According to official data, retail inflation jumped to 7.44 percent in July this year due to the cost of mainly food items including vegetables, which is It was the highest level during the last 15 months. It was 4.81 percent in June. RBI has the responsibility of keeping the retail inflation rate at four percent with a variation of two percent. The Governor of the Reserve Bank said, “The rate of (retail) inflation was at a very high level in July. This surprised everyone. But mainly due to high prices of tomatoes and other vegetables, we were expecting it to be higher in July.
India fastest growing economy in the world
He also said that despite all the global challenges, India is among the fastest growing major economies of the world. Das said the position of Indian banks is strong and stable due to strong regulatory measures, “but the domestic financial world needs to remain alert at all times.” He said, “You have recently seen some banks in the US and Switzerland. We may have seen big banks like Credit Suisse failing. But this global turmoil had no impact on India.” Das also said that due to the promotion of digital payments, transactions through UPI increased in the country during August. -The number of transactions crossed 10 billion. The Governor of the Reserve Bank said that efforts are being made to promote payments through feature phones in the country so that people in remote areas can also take advantage of this facility. Those who do not have smart phones and where there is problem with mobile network.
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