FICCI comments on WPI based inflation numbers

Jan 15, 2018

New Delhi, 15 January 2018: "Moderation has been seen in the WPI based inflation number for the month of December 2017, which has come primarily owing to lower food prices. The easing of inflation is a positive sign and continued efforts of government to strengthen food supply mechanism can help in bringing down food inflation further", said Mr. Rashesh Shah, President, FICCI.

 

"As the inflation numbers are being driven largely on account of supply side factors, we urge the Reserve Bank of India to calibrate its monetary policy stance giving equal weightage to growth consideration. Lowering of the repo rate in the upcoming monetary policy is critical to boost investments and build the growth momentum at this juncture", he added.

 

"We also look forward to the Union Budget to provide details on more specific measures towards strengthening of agriculture supply chain for effective management of food prices. At the same time, we hope to see inclusion of petrol and diesel under GST in coming months, which should also help in lowering the pressures of fuel inflation", added Mr. Shah.