On the question of challenges in the way of bringing inflation under control, Shaktikanta Das said, there are two-three challenges. The first challenge is the uncertainty at the international level. The uncertainties that have arisen due to the Russia-Ukraine war are still there, what will be its effect, it will be known only in the coming time. Second, although there is an estimate of normal monsoon, but there is apprehension about El Nino. It has to be seen how serious El Nino is. Other challenges are mainly weather related, which affects the prices of vegetables. These are all uncertainties that we have to deal with. When asked about the relief to borrowers from high interest rate, the RBI governor said, interest rate and inflation go hand in hand. That is why if inflation is brought under control at a sustainable level and it comes around 4 per cent, then the interest rate can also come down. That’s why we should analyze both together. Asked if interest rates will come down once inflation comes down, Das said, “I will not say anything about that now.” When the inflation is low, then we will think about it.
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