RBI's monetary policy continues to be growth centric despite upside risks to inflation.

(August 9, 2021)

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RBI's monetary policy continues to be growth centric despite upside risks to inflation.


The Reserve Bank of India, in its monetary policy meet decided to keep the key policy rates unchanged after two emergency rate cuts amid the COVID-19 disruptions and its ensuing economic fallout. Consequently, the repo rate stands unchanged at 4% and the reverse repo rate at 3.35%. Though the economy is still far from a significant revival and needed monetary policy support, inflation took center stage. Retail inflation, measured by CPI,...

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Sectoral deployment of credit to industries contracted by 0.3% YoY in Jun'21.

Of the eight core sectors, all except crude oil registered a positive growth in Jun'21.

 

The data on production of eight core industries of India is published monthly by the Ministry of Commerce and Industry. The current base year for the index of the series is 2011-12=100. The eight core industries included are- Coal, Crude oil, Natural Gas, Petroleum refinery products, Fertilizer, Cement, Steel, and Electricity generation. These eight industries comprise 40.27% of the weight of the items included in the Index of Industrial Produc...

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India's fiscal position improves on account of higher revenue receipts in Jun'21.

The central government accounts are divided mainly into two parts- Revenue Account and Capital Account. The revenue account consists of revenue receipts and revenue expenditure. Revenue receipts are accumulated from tax revenues (both via direct and indirect taxes) and non-tax revenues (interest payments dividend & profits etc.), while the revenue expenditure is broadly the expenditure which doesn't result in the cr...

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Wholesale inflation remains elevated despite signs of easing in fuel and power segments in June'21

Wholesale Price Index (WPI) represents the price of representative commodity basket of 697 items at the wholesale level, i.e. goods traded in bulk and between organizations, not the end consumers. It is a measure of inflation at the wholesale level. The significant components of WPI include Manufactured Products, Primary Articles, Fuel, and Power in the decreasing order of weight-age to the stated elements. The purpose of the WPI is to monitor price movements that reflect suppl...

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