Rajan said – India has enough foreign exchange reserves
RBI is increasing the interest rate which will help in reducing inflation
Food inflation is decreasing in the world and will also decrease in India
New Delhi. Former Reserve Bank of India (RBI) Governor Raghuram Rajan said in Raipur on Saturday that there is inflation all over the world at this time. RBI is increasing the interest rate which will help in reducing inflation. The highest inflation is in food and fuel. As we can see that food inflation is decreasing in the world and will also decrease in India.
India’s foreign debt reduced
Raghuram Rajan has also reached to participate in the fifth annual conference of the All India Professional Congress, a subsidiary organization of the Congress, held in Raipur. On the economic turmoil in Sri Lanka, Rajan said that we have enough foreign exchange reserves. The Reserve Bank has done a good job in increasing the reserves. We do not have a problem like Sri Lanka and Pakistan. Our foreign debt is also low.
At present, there is inflation all over the world. RBI is increasing interest rate which will help in reducing inflation. Most inflation is in food and fuel. As we can see food inflation is coming down in world & will decrease in India also: Former RBI Governor Raghuram Rajan pic.twitter.com/wA1cHsuoK1
— ANI (@ANI) July 30, 2022
Inflation in Sri Lanka nears 61 per cent in July
Significantly, inflation in Sri Lanka, which is going through a deep economic crisis, rose to a high of 60.8 percent in July. Inflation has increased due to the continued rise in the prices of food products and fuel. In a statement released on Saturday, Sri Lanka’s Statistical Department released data for July, saying that inflation based on the Consumer Price Index reached 60.8 percent this month compared to a year ago. It was at 54.6 per cent in June a month ago. In Sri Lanka, the situation has become very bad due to lack of proper foreign exchange even for the purchase of essential commodities. In the absence of foreign exchange reserves, there is a crisis of shortage of food items and fuel.
India’s foreign exchange reserves is $ 571.56 billion
According to the data released by the RBI on Friday, the country’s foreign exchange reserves declined by $ 1.152 billion to $ 571.56 billion in the week ended July 22, 2022. This decline in foreign exchange reserves was mainly due to the decrease in Foreign Currency Assets ie FCA (Foreign Currency Assets). According to the data, the value of gold reserves increased by $ 145 million to $ 38.502 billion during this period.
FIRST PUBLISHED : July 30, 2022, 20:24 IST