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26.04 - 08:15
21.04 - 14:43
While covid-19 ravages growth, RBI’s added challenge is visibility on inflation
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India’s states are under different degrees of lockdown that has reduced economic activity to the bare minimum. At such times, the focus is generally on limiting the damage to growth.
That said, policymakers need to have a reboot plan after lockdowns begin to unwind. Here, the Reserve Bank of India (RBI) may face a challenge of a clear visibility on inflation.
The assessment of inflation before the lockdowns began was that headline retail inflation would rise to 6.7% in the March quarter and then taper off in the subsequent quarters.
In all probability, the fourth quarter forecast may be largely accurate. Beyond that, forecasts may become unreliable. The trouble is that the lockdown has reduced demand to just the essential items.
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COVID-19
United States
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Cases: 46 252 513
Deaths: 750 423
Recovered: 0
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India
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Cases: 34 321 025
Deaths: 459 652
Recovered: 0
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Brazil
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Cases: 21 835 785
Deaths: 608 235
Recovered: 0
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United Kingdom
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Cases: 9 215 683
Deaths: 141 607
Recovered: 0
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Russia
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Cases: 8 494 589
Deaths: 237 619
Recovered: 0
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