Ram Singh, a member of the Reserve Bank of India’s Monetary Policy Committee, stated there is no risk of stagflation, highlighting the resilience of the Indian economy. He noted that while supply disruptions persist, a dovish pause in monetary policy is necessary to support growth without exacerbating inflation. Current forecasts predict a 4.6% Consumer Price Index (CPI) inflation for the financial year 2026-27, peaking in the third quarter before moderating. Singh pointed out that private investment surged by approximately 41% in the last financial year, reflecting robust economic fundamentals. He emphasized that the geopolitical situation, particularly the West Asia conflict, could impact growth rates significantly. If resolved, India could achieve growth rates of 6.5% or more. Singh also discussed the importance of managing inflation expectations and the interconnectedness of exchange rates and inflation, particularly in light of rising crude oil prices, which have crossed $100 per barrel. He affirmed that the Reserve Bank's introduction of core inflation forecasts enhances policy transparency, helping to navigate the complexities of supply-side shocks.