Reserve Bank Of India (RBI) governor Shaktikanta Das noted in last monetary policy meeting that considering the overall evolving growth-inflation situation, it would be prudent to continue the focus on growth in the context of the expected moderation in inflation. This would indeed be in sync with the concept of flexible inflation targeting. Financial stability also requires revival of the growth trajectory, he stated. The governor further said that the Union Budget has sought to provide counter-cyclical support to the economy while broadly adhering to fiscal prudence. Monetary transmission and bank credit flows have improved, but they need to become stronger. While the macroeconomy needs further monetary stimulus, the inflation outlook continues to be uncertain
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