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| By Samudranil Mukherjee |
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Friday, April 16, 2010 (17:02:30) |
| Tags : Inflation, India, Reserve Bank of India |
Indian inflation rate reaches 9.9% mark |
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| New Delhi, April 16: The inflation rate has peaked to the 9.9% mark for March. It is the highest in the last one year and five months and has been brought about by the widespread increase in prices of necessary commodities. As an inevitable result of the situation the apex bank of India has been under a lot of pressure to increase a number of important policy rates.
The Reserve Bank of India can now look at areas like USA and China in order to stage the process of economic recovery. China has been able to recover from the global economic meltdown in a remarkable way. USA has also been reacting well to the economic slowdown. The revival of these countries would enable the Reserve Bank of India to look at the matter of inflation with a positive approach. It is expected that India would be increasing its policy rates by as much as 25 to 50 basis points on 20th April.
The yearly inflation on a year-on-year basis has exceeded the forecasts made by the governing body of Indian banking, which had in the beginning of the year, predicted that the rate of wholesale price inflation would be 8.5% instead of the 6.5% it had forecast previously. |
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