Hope RBI takes note of low inflation, oil prices: Jaitley
August 31, 2015 13:49
Pushing for interest rate cut,
Finance Minister Arun Jaitley today said inflation is under control while oil
and commodity prices are also low and expressed hope that RBI will consider all
these factors in its monetary policy review.
"Inflation in India is broadly under control and you have low oil prices, you have low commodity prices.
"Though August and September are not going to be very exciting from the point of view of monsoon, at least July was a very good month for monsoon.
So production in agriculture is going to be significantly better than the last year and therefore I don't think food prices will rise very much either," he said.
In a scenario where inflation is under control, the quantum of interest rate cut is the prerogative of the RBI, he said.
"Inflation in India is broadly under control and you have low oil prices, you have low commodity prices.
"Though August and September are not going to be very exciting from the point of view of monsoon, at least July was a very good month for monsoon.
So production in agriculture is going to be significantly better than the last year and therefore I don't think food prices will rise very much either," he said.
In a scenario where inflation is under control, the quantum of interest rate cut is the prerogative of the RBI, he said.
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