The government is likely to name a successor to Rajan sometime this month
Jaitley said inflation has been under control for long and is likely to remain so on the back of good monsoon and unlikely spike in oil prices.
Retail inflation inches up to 3.77%; IIP growth dips to 3-month low
The rate of price rise in vegetables stood at 15.15 per cent in August as against 16.88 per cent in the previous month.
The rupee had gained 2 paise to end at 60.93 against the greenback in Thursday's trade.
According to a statement available on the Ministry of Statistics and Programme Implementation website, gross domestic product, consumer price index and index of industrial production will now be released at 5.30 in the evening.
Many analysts argue with limited space for a fiscal stimulus, the burden of lifting growth lies squarely on monetary policy.
Inflation in food articles inched up to 0.69 per cent in September.
The increase is in accordance with the accepted formula, which is based on the recommendations of the 6th Central Pay Commission, it said.
The Reserve Bank said it will launch inflation-indexed national savings securities for retail investors by mid-December.
Inflation in rural and urban areas in July was 8.45 per cent and 7.42 per cent, respectively.
On India achieving higher growth, Rajan said 9 per cent, which is the widely believed potential growth rate of the economy, is still some time away.
The Consumer Price Index-based inflation rose to 5.11% in January
Rajan had said that there was lack of clarity about the new method.
Only one 25 basis points rate cut is likely this calendar year, between April and June, the poll says
Demonetisation is the biggest reason for the rise in preference for small savings.
'If there is an RBI majority in the committee, there is no question of a veto.'
Govt likely to get full control on policy rate.
In the mid-quarter monetary policy review last month, RBI Governor Raghuram Rajan had left the key policy rate unchanged, after raising it 50 bps in two instalments since he took over on September 4, saying he was waiting for more data clarity.
Slight recovery in growth is expected only in July-September.
India is due to post industrial output later in the day, with analysts expecting a return to modest growth, and is due to post wholesale and consumer prices data next week amid expectations vegetable prices have eased.
The rate of price rise was at 6.77 per cent in June last year.
'Good economics isn't necessarily bad politics, or vice versa,' says Shekhar Gupta.
Global rating agency Moody's said India's economic growth remains weak and there is little chance of recovery next year.
The government is scheduled to release index of industrial growth for November and consumer price inflation for December later today.
This could be the reason why Prime Minister Narendra Modi mentioned tomato, onion, and potato as his government's 'TOP' priority, in an election rally on February 5 in poll-bound Karnataka.
The RBI, which has been keeping rates at an elevated level citing the high inflation, wants to bring it down to 6 per cent by January 2016.
A reversal of policy at this juncture could jeopardise the recent gains on inflation
In the last policy review in December, RBI had decided to keep policy rate unchanged.
'Both IIP and CPI inflation numbers are showing a huge disconnect from the leading indicators.'
Instead of a rate hike, or even a pause, there could be a window for the RBI for an interest rate cut
A little away from the city in the northern suburbs, vegetables are 15-30 per cent costlier.
In the current fiscal so far, retail inflation stabilised around 5 per cent, while wholesale price-based inflation averaged around 2.9 per cent during April-December.
Growth in China's consumer inflation slowed than market expectation to 1.6 per cent in September, the lowest since January 2010, according to the official data released on Wednesday.
Spread investments in equities, bonds, gold and cash to tackle volatility advise Nitin Singh, MD and head, and Vinay Joseph, director, investment strategy, Standard Chartered Wealth Management, India.
Home Minister Rajnath Singh said that the decision could cost the government roughly Rs 15,000 crore.
Consumer food price inflation eased to 6.14%.
Millions of central government employees were taken for a ride on April Fool's Day.
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