Restoring inflation-growth balance key task for new Governor: Das
3 months, 3 weeks ago

Restoring inflation-growth balance key task for new Governor: Das

Live Mint  

Mumbai: Restoring the growth-inflation balance will be the most important task ahead for the new Reserve Bank of India Governor Sanjay Malhotra as he takes charge on Wednesday, said the outgoing Governor Shaktikanta Das. “I think restoring the inflation-growth balance is the most important task ahead of the Reserve Bank, and I am sure the Team RBI, under the leadership of the new Governor, will take it forward,” said Das in his final media address. The Monetary Policy Committee under the chairmanship of Das kept rates unchanged in its meeting last week, as growth slipped to a seven quarter low of 6.5% in October as against RBI's projection of 7% and inflation spiked to 5.49% in September compared to RBI's estimate of 4.8%. Also read | Shaktikanta Das's term ends amid rising inflation, GDP slowdown In fact, Das admitted on 6 December that India’s near-term inflation and growth outcomes have turned somewhat adverse since the October policy meeting.

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