June 5, 2020 / 12:02 PM / a month ago

BRIEF-India's Inflation Over Medium-Term Expected To Be Benign - Cenbank's Raj

June 5 (Reuters) - Reserve Bank of India MPC Member Janak Raj:

* SAYS PRIVATE CONSUMPTION MAY SLOWDOWN FROM PRE-COVID-19 LEVELS, INVESTMENT DEMAND MAY BE IMPACTED SEVERELY - MPC MINUTES

* SAYS GIVEN COLLAPSE IN DOMESTIC DEMAND, CORE INFLATION SHOULD SOFTEN SIGNIFICANTLY FROM CURRENT LEVELS OVER MEDIUM TERM

* SAYS ON THE WHOLE, CORE INFLATION IS EXPECTED TO REMAIN BENIGN OVER THE NEXT FEW QUARTERS

* SAYS OVERALL, INFLATION OVER THE MEDIUM TERM IS EXPECTED TO BE BENIGN

* SAYS AN UNPRECEDENTED COLLAPSE IN DEMAND CALLS FOR FURTHER EASING OF FINANCING CONDITIONS

* SAYS FOCUS OF GOVERNMENT SPENDING, BOTH BY CENTRE AND STATES, WILL BE ON REVENUE EXPENDITURE THAN ON CAPITAL EXPENDITURE

* SAYS OVERALL FOOD INFLATION IS EXPECTED TO RESUME ITS DOWNWARD TRAJECTORY FROM MAY/JUNE

* SAYS EVEN THOUGH THERE IS EXPECTED TO BE A V SHAPED RECOVERY, ECONOMY WILL STILL BE LEFT WITH A CONSIDERABLE SLACK

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