RBI lowers FY26 inflation projection to 4 pc
Mumbai (PTI): The Reserve Bank on Wednesday lowered the inflation projection for the current fiscal to 4 per cent from 4.2 per cent earlier, taking into account good agricultural output and falling crude prices.
Consumer Price Index (CPI) based headline retail inflation declined by a cumulative 1.6 percentage points during January-February 2025, from 5.2 per cent in December 2024 to a low of 3.6 per cent in February 2025.
On the back of a strong seasonal correction in vegetable prices this year, food inflation dropped to a 21-month low of 3.8 per cent in February.
Unveiling the first bi-monthly monetary policy of financial year 2025-25, RBI Governor Sanjay Malhotra said the outlook for food inflation has turned decisively positive.
There has been a substantial and broad-based seasonal correction in vegetable prices.
"On the inflation front, while the sharper-than-expected decline in food inflation has given us comfort and confidence, we remain vigilant to the possible risks from global uncertainties and weather disturbances," the governor said.
He further said the uncertainties on rabi crops have abated considerably and the second advance estimates point to a record wheat production and higher output of key pulses over the last year.
Along with robust kharif arrivals, this is expected to set the stage for a durable softening in food inflation, the governor said.
Sharp decline in inflation expectations for three months and one year ahead period would help anchor inflation expectations going ahead, the central bank said.
Furthermore, the fall in crude oil prices augurs well for the inflation outlook, said the Monetary Policy Statement, 2025-26 Resolution of the Monetary Policy Committee (MPC).
On the other hand, there are concerns on lingering global market uncertainties and recurrence of adverse weather-related supply disruptions pose upside risks to the inflation trajectory.
Taking all these factors into consideration, and assuming a normal monsoon, Malhotra said CPI inflation for the financial year 2025-26 is projected at 4 per cent, with Q1 at 3.6 per cent; Q2 at 3.9 per cent; Q3 at 3.8 per cent; and Q4 at 4.4 per cent. The risks are evenly balanced.
The government will release the retail inflation numbers next week.
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21-year-old engineering student held for sending threat mails to Gautam Gambhir
New Delhi, Apr 26 (PTI): The Delhi Police has arrested a 21-year-old engineering student with alleged mental health issues for sending threat mails to the head coach of men's cricket team and former BJP MP Gautam Gambhir, an official said on Saturday.
The accused, identified as Jigneshsinh Parmar from Gujarat, was arrested on Friday.
Police said Parmar sent threat mails to Gambhir on April 22 -- the day terrorists gunned down 26 people in Kashmir's Pahalgam -- from a suspicious Gmail account.
In a statement, Deputy Commissioner of Police (Central) M Harsha Vardhan said, "Parmar is an engineering student. His family claims that he is suffering from mental health issues. Further investigation is in progress."
The police had earlier stated that they have been informed about an alleged threat mail received on an email ID associated with Gautam Gambhir.
An email complaint was filed with Rajinder Nagar police station along with screenshots of the threat mails.
Gambhir received two threat mails reading "I Kill You" from a sender identifying as "ISIS Kashmir", police sources said.
"Gautam Gambhir is already a Delhi Police protectee. We do not comment on specific security arrangements," the DCP said in the statement.
This is not the first time that Gambhir was threatened. In 2022 he had received similar threats, prompting the authorities to tighten his security measures.
