• search

Drought will put pressure on Inflation: RBI

Written by: Staff
|

New Delhi, Aug 19: Even as the Prime Minister tries to calm the states and the people over the drought crisis, Reserve Bank of India reveals more disturbing news. RBI on Tuesday, Aug 18 said that the lack of Monsoon may led to further rise in prices of essential commodities.

"The erratic monsoon may put pressure on inflation and could increase the prices," RBI Deputy Governor KC Chakrabarty said.

As the southwest monsoon is below the normal level, India faces severe drought. As on Aug 12 the overall monsoon was 29 pc below the normal level.

This comes amid the PM-CMs meet focussing on the drought and the spiralling prices. Dr Manmohan Singh on Tuesday, Aug 18 told the CMs not to panic over drought crisis.

However, the RBI deputy governor said that the adverse effects of the drought could be avoided to a certain extent by taking the right measures.

OneIndia News

For Daily Alerts
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Oneindia sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Oneindia website. However, you can change your cookie settings at any time. Learn more