Switch from GDP to GVA was mainly to conform to global standards: RBI

We will closely monitor the evolution of the handful of factors and how they impact inflation, said Urjit Patel at the bi-monthly policy press conference

The Reserve Bank of India kept its policy repo rate unchanged at 6% on Thursday for the fourth straight meeting and stuck to its 'neutral' stance as expected to support an early recovery in economic growth as inflation eases. Excerpts from RBI MPC panel's interaction with media

Could you further explain the impact of the HRA on inflation? 
 

Executive Director M Patra: In the monetary policy report of April 2016 we did a detailed analysis of the VII Pay Commission and its recommendation’s which include salaries, allowances etc. Of this the HRA (House Rental Allowance) has a bearing on