The Consumer Price Index (CPI) inflation for October is recorded at 6.21 per cent on year-on-year basis. Corresponding inflation rates for rural and urban are 6.68 per cent and 5.62 per cent, respectively, Ministry of Statistics and Programme Implementation (MoSPI) said on Tuesday.
India’s inflationary pressures are back in the spotlight, as food prices surge amid unpredictable weather patterns and shifting global dynamics.
Speaking at a media event, the Governor assured that the RBI is prepared to act with strength and agility, likening the Indian economy to a tiger for its resilience amid fluctuating global conditions.
The total value of these banknotes in circulation was Rs 3.56 lakh crore at the close of business on May 19, 2023, when the withdrawal of Rs 2000 banknotes was announced, which means less than 2 per cent of them are still in circulation.
However, gold reserves, which form part of the foreign exchange kitty, increased by $1.08 billion to $68.53 billion during the week, according to the central bank.
The Reserve Bank of India (RBI) is set to begin its three-day monetary policy meeting on Monday and will run from October 7 to October 9.
The fiscal deficit narrowed from 36 per cent reported during the same period last year.
As per latest data by the Reserve Bank of India (RBI), gold reserves increase by $726 million to $63.613 billion, compared to $62.887 billion last week.
As per the Reserve Bank of India (RBI), the Indian financial system remains resilient and is gaining strength from broader macroeconomic stability.
The government, in consultation with the Reserve Bank of India (RBI), has finalised its borrowing programme for the second half (H2) of FY 2024-25.
