India’s retail inflation shot up to a six-month high of 6.3 per cent in May, after easing to a three-month low of 4.23 per cent in April. Inflation, based on Consumer Price Index (CPI), has breached the Reserve Bank of India’s (RBI) target range for the first time after five months. The RBI is mandated to maintain the crucial number at 4 per cent in the medium term, with a 2 percentage point margin on either side as part of its inflation target.
Buy Prime Test Series for all Banking, SSC, Insurance & other exams
National Statistical Office data for retail inflation showed food inflation shot up to 5% in May from 2% in April as prices of protein items such as meat, fish, eggs, oils and fats accelerated. The fuel bill also went up 11.6% as the government increased retail prices of petrol and diesel after state election results on 2 May. Services inflation jumped as costs of health, transport and personal care rose during the second wave of the pandemic.
India is preparing for a major shift in its trade and automobile policy. As negotiations…
The 77th Republic Day Parade in New Delhi became a unique blend of history, art,…
The Government of India Act, 1935 marked a major constitutional experiment under British rule. Enforced…
India marked its 77th Republic Day with a spectacular parade that blended military strength, cultural…
The Beating Retreat Ceremony is a grand military tradition that marks the formal conclusion of…
The 42nd Constitutional Amendment Act, 1976 is one of the most significant changes ever made…