The Governor Shaktikanta Das has said the Reserve Bank of India (RBI) cannot ignore food inflation while formulating the monetary policy. His comments come amid suggestions for excluding food inflation while setting benchmark interest rates. He said that the weightage of food in the overall consumer price inflation, which stands at 46 per cent currently, was done in 2011-12, and needs to be revisited, and added that analysis work is going on by the National Statistical Office (NSO).
In his policy review statement, Das said ‘The MPC (monetary policy committee) may look through high food inflation if it is transitory; but in an environment of persisting high food inflation, as we are experiencing now, the MPC cannot afford to do so’. He added ‘It (MPC) has to remain vigilant to prevent spillovers or second round effects from persistent food inflation and preserve the gains made so far’.
He said the current CPI basket is based on 2011-12 data and the review could not be undertaken because of the Covid pandemic. He said the RBI is in regular touch with the government on the supply side response to inflation, and also discusses flood and heavy rainfall. He said while high rainfall in a district of Kerala and parts of Himachal Pradesh will lead to some impact on prices, overall the monsoon is 7 per cent higher than the long period average and will have a positive impact on the food inflation.
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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