NEW DELHI (Reuters) – India’s January inflation rate is likely to be closer to the upper end of the central bank’s target band of 6% but should not create any panic, central bank chief Shaktikanta Das said on Monday.
Das made the comments after a meeting with the country’s finance minister and the central bank’s board in a customary post-budget meeting.
India’s retail inflation likely accelerated to 6.0% in January, driven by higher consumer goods and telecom prices along with a comparatively low rate a year ago, a Reuters poll found.
Das also said the Reserve Bank of India is working on the borrowing programme for the next fiscal year while the country’s inclusion in the global bond indexes is also a work-in-progress.
(Reporting by Aftab Ahmed; Writing by Swati Bhat; Editing by Muralikumar Anantharaman)
