What recent development did the RBI MPC member Ashima Goyal discuss regarding high food inflation in India

Here are some key points regarding the recent development discussed by RBI MPC member Ashima Goyal regarding high food inflation in India:

• As India develops, the problem of high food inflation is expected to become less severe over time.
• Goyal emphasized that as income levels rise and infrastructure improves, the food supply chain efficiencies are likely to increase.
• This development will lead to better management of food production, storage, and distribution, ultimately contributing to lower food inflation rates.
• She also highlighted the importance of building resilient supply chains to mitigate the impact of external shocks on food prices.
• These efforts are crucial for ensuring food security and stabilizing inflation rates in the country.

Overall, Goyal's insights suggest that ongoing developmental efforts in India will help address the challenge of high food inflation in the long run.