RBI has given the news to farmers happy, told- Due to this income will increase, inflation will decrease – Cross Talk India
Reserve Bank of India (RBI) Has given the news to be happy for farmers across the country. The RBI has said in its April bulletin that this year, the estimate of the monsoon being better than normal is expected to improve the situation in the agricultural sector. This can increase agricultural income. That is, the income of farmers will increase. Also, it can help to keep food prices under control. An article on the ‘state of the economy’ in the bulletin states that domestic engines such as consumption and investment amidst global uncertainties remain strong and they are relatively less affected by external adverse conditions. It states, “Policy support with understanding can help India convert global instability into opportunity and strengthen its position in the emerging world economic scenario.”
Trade war increased anxiety
The bulletin also mentions that the increase in trade and duty pressures and the instability in the financial markets has raised concerns about the global economic recession in the near future. It states, “Although the decrease in global demand may affect India’s economic growth, the major engines of development like domestic consumption and investment are still strong and they are relatively less affected by external challenges.” In addition, this year, the possibilities of the agricultural sector have been bright by estimating the south-west monsoon than normal this year. This can increase the income of farming and can help control food inflation.
India will benefit
According to Bulletin, India is now ready to gain business relations with various countries, improve the supply chain, diversify the sources of FDI (FDI) and benefit through better association with global investors. However, the Reserve Bank has clarified that the ideas expressed in the bulletin are private of writers and are not the official opinion of the Reserve Bank of India.
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