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In the medium term the target is to decrease inflation to 5%, keeping in mind the global rate of around 3%.
On the basis of Consumer Price Index:
This has also shown a stark increase from 7.3% to 9% within a year.
Money Supply Rate:
The money supply rate has lowered to a value of 20.3% from 21.9% in the earlier year. Further moderation is expected to lower it to 17% according to the Annual Policy Statement of April, 2008.
Foreign Exchange Reserves:
The foreign exchange reserves was depleted by US$ 35.8 billion, and stood at US$ 273.9 billion.
Foreign Exchange Rate:
There was an 18.9% depreciation of rupee with respect to US Dollar, 0...
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