On the whole, the Reserve Bank of India Monetary Policy Review and other macro-economic data presents a picture of an improving economy. Inflation remained benign in March. The Consumer Price Index was up 4.3 per cent year-on-year.
This suggests the Monetary Policy Committee's (MPC) inflation target is realistic. The MPC targets an ideal rate of 4 per cent year-on-year within a band of plus/minus 2 per cent. The MPC projects inflation will remain inside 4.7-5.1 per cent in the first half (April-September 2018) and fall to 4.4 per cent in second half (October 2018-March 2019). GDP growth will accelerate, from
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