The topic of inflation has been consistently highlighted in the Reserve Bank of India’s (RBI) monetary policy committee’s reviews. On April 6th, the central bank convened to discuss monetary policy and made the decision to halt its consecutive rate hikes, maintaining the benchmark repo rate at 6.50%. According to the RBI, the projected inflation rate for the fiscal year 2023-24 is 5.2%. Despite this, the RBI is optimistic that consumer price index (CPI) inflation will subside this fiscal year. The monetary policy committee (MPC) has determined to remain committed to withdrawing accommodation to progressively bring inflation into alignment with the target while simultaneously supporting economic growth.