RBI monetary policy committee Meet Live: Inflation is expected to be 5.7 percent in 2022-23, according to RBI Governor Shaktikanta Das, who made the remarks at the most recent monetary policy committee (MPC) meeting.
Inflation rates were 6.3 percent in the first quarter, 5 percent in the second, 5.4 percent in the third, and 5.1 percent in the fourth quarter (Q4). Governor Das said the RBI will gradually drain Rs 8.5 lakh crore in excess liquidity from the system over a period of years. Supply chain disruptions have also roiled global commodities and financial markets, he added.
"Global commodities and financial markets have been shaken by long-term supply disruptions. Given the importance of two economies in world production and exports of important commodities like as oil and natural gas, wheat and corn, palladium, aluminium, and nickel, edible oil, and fertilisers, " Governor Shaktikanta Das said.