Reserve Bank of India (RBI) Governor Shaktikanta Das, in the bi-monthly monetary policy announcement, stated the need for preparedness to use policy instruments to control inflation, emphasizing a potential increase beyond initial projections. The inflation outlook for Q2 2023-24 has risen to 6.2%, driven by a vegetable price shock. While Q1 2023-24 witnessed a decline to 4.6%, June saw a spike to 4.8% due to food inflation. RBI’s revised CPI inflation projection for 2023-24 is 5.4%. Economic growth is forecasted at 6.5% for the year.