Forthcoming consumer price inflation data for February should show that the Reserve Bank of India (RBI) remains on course to meet its target for the start of 2016, which has now been formalised under the new monetary policy framework. But further ahead, given the weight of volatile food and fuel prices in the CPI basket, the RBI can’t be complacent about its chances of meeting the target of 4 ±2% for the end of FY16/17.
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