With many central banks increasing their rates aggressively to keep inflation’s rise at bay, Indian government has no intention of any such move, due to fear of economic growth taking an adverse toll. Even after the inflation rate reaching above 6%, significantly higher than the RBI’s mandatory window of 2% up or down 4%, govt attempts to keep a balanced growth and policy rate hike. RBI is expected to submit a report, giving out measures to counter inflation, after failing to do so for three consecutive quarters.
