Upside risks to CPI inflation likely to outweigh downside risks: Eco Survey

The Economic Survey for 2022-23 has said the upside risk to inflation in India may outweigh the downside threats even if inflation challenge in FY24 will be less stiff than the previous year.

The Reserve Bank of India (RBI) projected inflation at 6.7 per cent for the current fiscal year and 5 per cent and 5.4 per cent for the first and second quarter of FY24, assuming a normal monsoon.

The Survey, which was tabled in Parliament on Tuesday by Finance Minister Nirmala Sitharaman, noted that India’s inflation management is ‘noteworthy’ and can be contrasted with advanced economies.

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