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KEY CONCEPTS
Crude oil prices have been continuously rising over the world. Following the federal government's drop in excise charges, some states reduced their fuel VAT.
India has increased the fertiliser subsidy for the Kharif season to help farmers cope with rising global costs.
In order to prevent internal inflation, the government also barred wheat exports.
The food ministry capped sugar supplies to 100 LMT in anticipation of a shortage in October and November.
In April, the Consumer Price Index (CPI) rose to 7.9%, significantly beyond the government-mandated threshold of 4% (+2%).
Source: Safalta.com
The Reserve Bank of India and the Finance Ministry collaborated to bring the CPI inflation rate down to nearly 7% in May.The RBI raised the repo rate twice, the first by 40 basis points and the second by 50 basis points, to limit liquidity and manage inflation.
Facts to remember
The crisis between Russia and Ukraine, according to the minister of state, has had a substantial impact on India's inflation.
India has increased the fertiliser subsidy for the Kharif season to help farmers cope with rising global costs.
In order to prevent internal inflation, the government also barred wheat exports.
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