Centre and RBI – Monetary policy framework agreement signed agreement – pact binds RBI to Inflation target.
Ø Cut inflation to less than 6% by Jan 2016.
Ø Consumer Inflation –largest – 4% wm + or – 2 percentage (2016-17).
· RBI to submit report if CPI inflation is more than 6% for 3 consecutive quarters in 15-16 or less than 2% for 3 lenses. Quart in 2016-17.
· RBI now to given ore priority for priozerise than interest & forex rates.
· Centre to amont RBI ACT to setup monetary policy panel – prioritizing controlling prize rise.
· In case, factors beyond RBI, such as fiscallires possibility of centre or constraints in supplies of goods 1 source are stoking inflation, RBI could like interest to meet largest set.
· Core sector growth slons to 1.8% in Jan
· 8 core sector industries – coal, crude oil, natural gas, refinery products, fertilizers, steel, cement and electricity.
· Crude oil, N.gas – negative growth.
· Core section – 38% of IIP.
· RBI widens scope for priority section lending.
· “newly includes sanitation, health care, drinking water facilities, renewable energy
· Property sector lending largest 40%of adjusted net bank credit outoy which18% for agriculture – sub target 8 of small 4 marginal farmers.
· Foreign secretary SAARC YATRA – stats from Bhutan – Bangladesh –discos LAB 4 teesta
· Nepal leader of oppn. UCPN (maobt) Fmr pm Babu ram Bhalkri visit India
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