‘Energy transition poses inflation risks’
The Hindu
‘Green’ move risks energy price shocks; China financial sector adds tail risk to global growth: Varma
The ongoing worldwide transition to green energy poses a significant risk of triggering energy price shocks similar to the 1970s, which would accelerate inflation, said Jayanth Varma, the sole member of the RBI’s Monetary Policy Committee (MPC) to vote against continuing with the central bank’s ‘accommodative’ policy stance.
“This means that the upside risks to long term inflation and to inflation expectations are now more aggravated,” Mr. Varma said at the last MPC meeting, the minutes of which were released on Friday.
“My second recent concern is about the tail risk to global growth posed by emerging financial sector fragility in China reminiscent of Japan of the late 1980s,” he said. “Both of these risks — one to inflation and the other to growth — are well beyond the control of the MPC, but they warrant a heightened degree of flexibility and agility,” Mr. Varma stressed.
According to BACL, the biophilic-inspired business park will offer smart workspaces within a vibrant public realm. The project’s most exceptional and breathtaking attribute lies in the Urban Forest, a lush oasis in the centre of the development. This green space will serve as a focal point, seamlessly blending indoor and outdoor spaces throughout the area. The upcoming metro station in Airport City will provide seamless connectivity to the business park from the northern side, ensuring convenient accessibility.