Retail and wholesale inflation as well as global commodity prices may have declined, but a likely shortfall in the balance of payments and a weakening rupee could add to MPC's woes
Shaktikanta Das, Governor of Reserve Bank of India. After watching inflation surge from the sidelines for many months, India’s central bank sprung into action to increase rates and tame rampant inflation. Image: Anshuman Poyrekar/Hindustan Times via Getty Images