Prices and Inflation

While the year 2022 witnessed a return of high inflation in the advanced world after three to four decades, India caps the rise in prices.

• While India’s retail inflation rate peaked at 7.8 per cent in April 2022, above the RBI’s upper tolerance limit of 6 per cent, the overshoot of inflation above the upper end of the target range in India was however one of the lowest in the world.
• The government adopted a multi-pronged approach to tame the increase in price levels
• Phase wise reduction in export duty of petrol and diesel.
• Import duty on major inputs was brought to zero ....