‘Goal is to align inflation with 4% target’, says Shaktikanta Das | Top quotes from RBI MPC minutes

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RBI is to align inflation to the target and control inflation expectations, said Reserve Bank of India (RBI) Governor Shaktikanta Das in minutes. "Our fundamental goal is to align inflation with the 4% target and anchor inflation expectations," Reserve Bank of India (RBI) Governor Shaktikanta Das said in the minutes released on Friday. As an impact of surging inflation, people are not increasing discretionary spending in view of high inflation, according to RBI Deputy Governor Michael Patra.

The meeting was attended by all the members of the MPC, ie Shashanka Bhide, Ashima Goyal, Jayanth R. Varma, Rajiv Ranjan, Michael Debabrata Patra, and was chaired by RBI Governor Shaktikanta Das. -"Our fundamental goal is to align inflation with the 4% target and anchor inflation expectations," Reserve Bank of India (RBI) Governor Shaktikanta Das.

- While pointing out towards mixed growth trend showcased by the Indian economy, Shashank Bhide said, “Some export dependent industries have slowed. Pent-up demand is waning for services but remains robust."
-He also highlighted that “many indicators point towards a revival in private investment post recovery, but some surveys suggest election uncertainty may delay projects." -"There is also growing evidence that inflation is undermining growth – people are not increasing discretionary spending in view of high inflation and this is slowing sales growth of corporations," RBI Deputy Governor Michael Patra said. -External MPC member Ashima Goyal explained that the current stance rules out a rate cut.

"It allows a rise but that will not be required unless there are second round effects from the repeated supply shocks. So far, there are no signs of such pass through. The guidance, therefore, is