........The Government will need to plan ahead to address supply-bottlenecks and logistics issues to make sure that food inflation does not spike. Timely release of staples from FCI, reforms in Agriculture Produce Market Committees and co-ordination of imports and exports of agricultural commodities will be necessary. The inflation will also moderate due to high base effect of last year. If there is no escalation of Iraq tension, I expect crude oil prices to remain benign. This will help to meet RBI expectations of sustainable lower inflation in the second half of the year. In this scenario, one cannot expect interest rate cuts from RBI in the near term..........
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