Harendra Kumar Behera News Today

The impact of food inflation shock on core inflation was the maximum during the late 1990s, which has declined over time, the paper finds. The response of core inflation to a one per cent rise in food inflation has declined from 0.37 percentage points in the second quarter of 1998-99 to 0.14 percentage points in the third quarter of 2023-24. The responsiveness of core inflation to food shock has declined substantially in the post de jure flexible inflation targeting regime in India.

The Indian government should focus on development, as per a research paper by RBI. The paper shows that the general government debt-GDP ratio could decline to 73.4% by 2030-31, 5 percentage points lower than the IMFs projection. Further fiscal tightening is needed for sustainable growth.

India’s inflation target band of 2-6 per cent is up for review as the five-year term for the Monetary Policy Committee’s (MPC’s) inflation-targeting framework draws to a close, Finance Minister Nirmala Sitharaman said on Thursday. “The MPC’s term is coming to an end. Inflation targeting will also have to be reviewed. We shall do that,” Sitharaman was quoted as saying by Reuters. The government has asked the Reserve Bank of India (RBI) for its views on the targeting framework, said...

Updated Jan 12, 2021 | 18:01 IST Index of Industrial Production (IIP) contracted sharply by 1.9% in November 2020 as against growth of 3.6% in October 2020 and growth of 2.1% in November 2019 Retail inflation eases to 4.59% in December; IIP contracts sharply by 1.9% in November&nbsp New Delhi: Retail inflation eased to 4.59% in December 2020. According to data released by the Ministry of Statistics and Program Implementation on Tuesday, Consumer Price Index inflation ease...

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There has been a steady decline in trend inflation in India, the Reserve Bank of India noted in a Working Paper titled "Measuring Trend Inflation in India". The Paper is authored by Harendra Kumar Behera and Michael Debabrata Patra. Central to the design and conduct of monetary policy is the concept of trend inflation, the level to which actual inflation outcomes are expected to converge after short run fluctuations from a variety of sources die out. The paper seeks to estimate trend inflation ...

Dec 29, 2020 06:47 GMTFXStreet News USD/INR stays heavy near the lowest since October 21. RBI’s working paper proposes medium-term inflation target at 4% ahead of five-year review of the goal in March. Broad US dollar weakness on the house passage of the covid aid paycheck also favors the bears. USD/INR remains on the back foot near 73.40, down 0.17% intraday, during the initial Indian trading on Tuesday. The pair recently dropped after the Reserve Bank of India’s (RBI) working paper trigge...

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If it aint broke, dont fix it: RBI working paper says 4% inflation target is good for India Recently there were speculations that the government could ask the MPC to loosen the inflation target to facilitate a growth supportive policy. December 29, 2020 / 09:29 PM IST A Reserve Bank of India (RBI) working paper authored by Harendra Kumar Behera and Michael Debabrata Patra has said maintaining the inflation target at 4 percent is appropriate for India. The paper, titled ‘Measuring trend inf...

Updated Dec 28, 2020 | 22:23 IST The paper authored by Harendra Kumar Behera and Deputy Governor Michael Debabrata Patra finds a steady decline in trend inflation to 4.1-4.3% since 2014, until just before the pandemic. Representational Image&nbsp | &nbspPhoto Credit:&nbspIANS Key Highlights A target set too below the trend imparts a deflationary bias to monetary policy, said the paper "A target that is fixed above trend renders monetary policy too expansionary and pron...