SME News » Financial News » General News
High inflation causing problems to economic growth: RBI
SME News, Wednesday, Oct 03, 2012 11:28:15 AM IST
Related Topics:
next >>
Related News
NEW DELHI: The high food inflation is creating problems to the economic growth, said Reserve Bank of India (RBI) Deputy Governor Subir Gokarn.
Gokarn stated that the current growth situation proposed that significant domestic policies have potential to help the country rising from global economy.
He added, “The focus has to be on the domestic policies.” The top official stated that the effect of growth-friendly policies can create jobs.
Displaying consistent sluggishness, Indian economy rose by 5.5% during the April-June quarter mainly due to th weak performance of manufacturing, mining and farm sectors.
While throwing light on food inflation, Gokarn, who looks after the monetary policy management, stated that the high inflation is responsible for the rise in consumption of cereals, sugar, proteins and pulses.
Moreover, climbing vegetables prices rose the retail inflation during August to 10.03%, jump from 9.86 % during July.
