Managing inflation is clearly a priority for both the Government and the Central Bank at this juncture: FICCI

Subhrakant Panda, Senior Vice President, FICCI, commenting on the monetary policy announcement said that the policy is on expected lines, and managing inflation is clearly a priority for both the Government and the Central Bank at this juncture. Supply shocks arising out the pandemic and the ongoing geo-political developments have been a cause of concern globally; in case of India, a significant part of inflation is imported and will require concerted effort to bring under control. While the RBI is clearly targeting inflation, we are encouraged to note that the projection for GDP growth for the current year has been retained, he added. On the regulatory side, there were a series of announcements that will have a positive impact on the housing sector as well as further encouraging the use of digital payments. Both the RBI and government were steadfast in their approach to support the economy through the challenging period of the pandemic. FICCI is encouraged to note that the same resoluteness is on display to guide the economy during the current period of heightened uncertainty.

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