• Wednesday, May 29, 2024

Business

IMF asks India to curb inflation; calls GST implementation as achievement

IMF states that India’s average inflation is likely to increase to 5.2 per cent in FY 2018-19

By: Radhakrishna N S

The International Monetary Fund (IMF) said a steep rise in the domestic demand, rise in government sponsored procurement prices of farm produces and jumping crude oil prices have resulted in the current inflationary trends in the country. India’s average inflation is likely to increase to 5.2 per cent in the financial year 2018-19 from a 17 year low of 3.6 per cent recorded in the last fiscal year, the IMF pointed out in its report on Wednesday (8). Reserve Bank of India (RBI) raised repo rate for the second time by 25 basis points to 6.5 per cent and expressed…

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