The inflation in India is expected to ease in a gradual manner in the second half of FY23, said Shaktikanta Das, Governor, Reserve Bank of India (RBI) on Saturday.
Speaking at the Kautilya Economic Conclave, organised by Institute of Economic Growth, New Delhi, Das said, with the supply outlook appearing favourable and several high frequency indicators pointing to resilience of the recovery in the first quarter (April-June) of 2022-23, the inflation may ease gradually in the second half of 2022-23, precluding the chances of a hard landing in India.
Tracing the history of inflation in India, Das said in early 2022 inflation was expected to moderate significantly to the target rate of four per cent by third quarter of FY23, with a projected average inflation rate of 4.5 per cent for 2022-23.