RBI Deputy Governor Poonam Gupta said India could consider lowering its inflation target and narrowing the tolerance band, but only if robust growth and stable inflation persist over the next five years. Still, ongoing global shocks might force the central bank to keep the current flexibility. The final call will follow changing economic conditions.
India’s remittance inflows, pegged at about $138 billion, are becoming more shock-resistant as sending networks diversify. Advanced economies are increasing their contribution and moving ahead of Gulf-linked remittances, strengthening India’s economic cushion even as regional conflicts pose near-term risks. The result: a more fortified external financing base than before.
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