India Retains Inflation Target, Keeps Borrowing as Planned
- Price-growth to be targeted in a band of 2%-6%, official says
- Borrowings in first half to account for 60% of annual sales
Fruit and vegetables for sale at a wholesale market in Patna, Bihar, India.
Photographer: Anindito Mukherjee/BloombergThis article is for subscribers only.
India’s government will retain a 2%-6% inflation target for the central bank, putting to rest speculation that authorities will push to shift focus to economic growth.
The target is unchanged, Economic Affairs Secretary Tarun Bajaj told reporters in New Delhi Wednesday. The flexible inflation targeting regime, known as FIT, will be effective for five years through 2026.