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Prime Minister Narendra Modi gave his backing to a new inflation target in a major speech on Monday, saying his government had brought down consumer price growth from double digits under the last government.
Delivering his third Independence Day address, PM Modi backed the 4% inflation target, within a range of 2% points either way, that had been agreed with outgoing Reserve Bank of India (RBI) Governor Raghuram Rajan.
The government formally "notified" the medium-term inflation target just before Rajan held his final policy meeting on August 9.
Figures last Friday showed inflation nudging over 6%, outside the target range.
As independent India turns 70, PM Modi wished the country on Twitter as saying:
 
<blockquote data-lang="en">स्वतंत्रता दिवस की शुभकामनाएं। जय हिंद।Happy Independence Day. Jai Hind! <a href="https://twitter.com/hashtag/IndiaIndependenceDay?src=hash">#IndiaIndependenceDay</a>
— Narendra Modi (@narendramodi) <a href="https://twitter.com/narendramodi/status/764982482491944960">August 15, 2016</a></blockquote>
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Prime Minister Narendra Modi gave his backing to a new inflation target in a major speech on Monday, saying his government had brought down consumer price growth from double digits under the last government.Delivering his third Independence Day address, PM Modi backed the 4% inflation target, within a range of 2% points either way, that had been agreed with outgoing Reserve Bank of India (RBI) Governor Raghuram Rajan.The government formally "notified" the medium-term inflation target just before Rajan held his final policy meeting on August 9.Figures last Friday showed inflation nudging over 6%, outside the target range.As independent India turns 70, PM Modi wished the country on Twitter as saying: स्वतंत्रता दिवस की शुभकामनाएं। जय हिंद।Happy Independence Day. Jai Hind! #IndiaIndependenceDay— Narendra Modi (@narendramodi) August 15, 2016 

PM Narendra Modi backs new CPI target in Independence Day speech

news-pm-narendra-modi-backs-new-cpi-target-in-independence-day-speech-4993

Prime Minister Narendra Modi gave his backing to a new inflation target in a major speech on Monday, saying his government had brought down consumer price growth from double digits under the last government. Delivering his third Independence Day address, PM Modi backed the 4% inflation target, within a range of 2% points either way, that had been agreed with outgoing Reserve Bank of India (RBI) Governor Raghuram Rajan. The government formally notified the medium-term inflation target just before Rajan held his final policy meeting on August 9. Figures last Friday showed inflation nudging over 6%, outside the target range. As independent India turns 70, PM Modi wished the country on Twitter as saying:   स्वतंत्रता दिवस की शुभकामनाएं। जय हिंद।Happy Independence Day. Jai Hind! #IndiaIndependenceDay — Narendra Modi (@narendramodi) August 15, 2016  