Extreme weather may pose risk to inflation, says RBI Bulletin
Mumbai (PTI): Extreme weather conditions may pose a risk to inflation, along with prolonged geopolitical tensions that could keep crude oil prices volatile, the Reserve Bank's April Bulletin said on Tuesday.
The retail based on the Consumer Price Index (CPI) has eased to 4.9 per cent in March after averaging 5.1 per cent in the preceding two months.
The Reserve Bank, which mainly factors in CPI while arriving at its bi-monthly monetary policy, has kept the key interest rate unchanged at 6.5 per cent since February 2023, citing concerns on the inflation front.
An article on 'State of the Economy' published in the Bulletin further said global growth momentum has been sustained in the first quarter of 2024, and the outlook for world trade is turning positive.
Treasury yields and mortgage rates are ticking up in major economies as expectations of interest rate cuts are being pared.
"In India, conditions are shaping up for an extension of a trend upshift in real GDP growth, backed by strong investment demand and upbeat business and consumer sentiments," the article said.
The RBI, however, said the views expressed in the Bulletin article are of the authors and do not represent the views of the Reserve Bank of India.
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Make polling hours 6am-7pm for May 7 LS polls, Karnataka BJP urges EC citing heatwave
Bengaluru, May 3: Citing the ongoing heatwave in the state, Karnataka BJP on Friday petitioned the Election Commission with a request to modify the polling hours to the 6am-7pm period in the 14 parliamentary constituencies in the state that goes to polls on May 7.
Polling is currently scheduled to be held in the second phase in the state in 14 segments in the northern districts between 7am to 6pm on May 7.
"It has become hard to come out and vote between hours 10.00 to 17.00 due to uncontrollable heat. The average heat in those parts (north Karnataka) covering 14 parliamentary constituencies are between 37 and 42 degree (Celsius). The mercury is rising at an alarming level and it would become hard for the electors to come out and vote," BJP's petition said.
The petition highlighted the alarming rise in temperatures, which are expected to go beyond 40 degree Celsius, and also stated that the number of voters over the age of 40 is high and that they are vulnerable to the heatwave.
"To keep up the good spirit of voting, necessary action should be taken," the BJP petition urged the Election Commission, saying, "In this background, it is requested to modify the time of voting in the 14 parliamentary constituencies from 06.00 to 19.00 hours on May 7".
Polling was held between 7 am and 6 pm during Karnataka's first phase of the Lok Sabha polls in 14 constituencies on April 26.
