The Reserve Bank of India (RBI) needs to focus "clearly" and "unambiguously" on inflation, especially amidst sustained economic growth, RBI Governor Shaktikanta Das said on Friday.
"...our target is inflation and we are supposed to keep growth in mind", Das said while speaking at the Financial Express Modern BFSI Summit.
"We monitor the growth numbers very carefully and I have said it on a number of occasions that the RBI Act mandates the central bank to maintain price stability (maintaining inflation at 4 per cent), keeping in mind the objective of growth. So, in all our monetary policy decisions, the growth aspect is always kept in mind," he said. Das underscored that economic growth in the country has been robust, with an average growth rate of 8.3 percent over the last three years.
"This year our projection is 7.2 per cent and we are optimistic that 7.2 per cent will be achieved. In fact, we believe the April-June quarter growth has been 7.4 per cent. And growth momentum in Q2 continues to be strong. So, growth is holding steady hence we have to focus clearly and unambiguously on inflation", Das said.
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