The June bulletin of the Reserve Bank of India said that the production of vegetables and fruits is likely to be affected due to extraordinary heat and decreasing level of reservoirs. This situation can create new problems for policy makers. The Reserve Bank of India has expressed this apprehension in its June Bulletin. In the latest monthly bulletin of June 19, the Reserve Bank of India (RBI) has claimed that the process of bringing inflation to the target of 4 percent will continue until food prices remain unchanged. The pressure will remain.
“As long as food price pressures persist, efforts will continue to bring inflation down to its target (4%),” RBI’s ‘Monthly State of the Economy’ article said. The central bank has set the inflation target at 4 per cent, with a leeway of 2 per cent on either side. Deputy Governor Michael Patra, one of the three RBI representatives on the Monetary Policy Committee (MPC), is one of the co-authors of the article. . The views expressed in the article do not reflect the official stand of the central bank, the RBI said in a release.
Production of vegetables and fruits likely to be affected due to extreme heat: RBI
According to the June bulletin of the Central Bank, the production of vegetables and fruits is expected to be affected due to extraordinary heat and decreasing level of reservoirs. This situation can create new problems for policy makers.
According to the June bulletin of RBI, the severe heatwave is hampering the last phase of the process of reducing inflation. The RBI bulletin said the central bank is trying to bring down retail inflation to its target of 4 per cent, but the process is being hampered by volatile and high food prices.
RBI Governor said- need to monitor the arrival of Rabi crops
“The extraordinary heat and depleted reservoir levels may put pressure on vegetable and fruit production. Rabi arrivals of pulses and vegetables also need to be carefully monitored,” RBI Governor Shaktikanta Das said in the June edition of the central bank’s bulletin.
