Excise duty cut on petrol, diesel is significantly positive for inflation: RBI Governor
PTI, Nov 10, 2021, 5:09 PM IST
The recent decision of the central government to cut the excise duty on diesel and petrol is significantly positive for inflation, Reserve Bank of India Governor Shaktikanta Das said on Wednesday.
He said food inflation is now under control, but core inflation continues to remain elevated.
“That (excise duty cut on petrol and diesel) is significantly positive for inflation,” Das said. Inflation in India is mainly caused due to the supply-side factors, which have been addressed by the government, he added.
“The supply-side factors have been addressed by the government, particularly with reference to pulses and edible oils, and now very recently with reference to petrol and diesel. All these have augured well for the inflation scenario.
“So, food inflation, by and large, looks to be now under control,” Das said.
“So far, as India is concerned, core inflation has remained elevated, and that is a policy challenge, and we are keeping a very close watch of the evolution of the core inflation,” he noted.
Even the fuel inflation has also remained elevated, and the RBI is closely monitoring it, he added.
Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.
Top News
Related Articles More
India not reaping benefits of democratic dividend: Raghuram Rajan
Markets slump for third day on fears of escalating tensions in Middle East; IT stocks drag
Tesla is planning to lay off 10 of its workers after dismal 1Q sales, multiple news outlets report
With just Rs 150 base airfare take a 50-minute flight
Byju’s founder Raveendran to take over firm’s daily operations after CEO Mohan’s resignation
MUST WATCH
Latest Additions
Youth detained for Facebook threat to BJP MLA in Nashik
NE’s integration with rest of India happened under Modi govt: BJP chief Nadda
Congress spokesperson booked for alleged hate speech
BJP files complaint with EC against Sowmya Reddy, others for alleged violation of poll code
Siddaramaiah slams BJP candidate for visiting house of alleged police recruitment scam kingpin