The Reserve Bank of India’s inflation target is 4% with the upper tolerance limit of 6%and the lower tolerance limit of 2%. The weightage of petrol and diesel in the WPI index are 1.60% and 3.10%, respectively, and in the CPI index, 2.19% and 0.15%. Wholesale inflation has eased to 11.16% in July from a record high of 13.11% in May after food items became cheaper. According to government data, the interest on oil bonds paid in the last seven years totalled ₹70,195.72 crore. Congress leader Randeep Singh Surjewala issued a six-point rebuttal on the issue of oil bonds, on Twitter.

Source: Hindustan Times August 16, 2021 23:03 UTC