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Reacting on impact of petrol and diesel prices on inflation Reserve Bank of India of Governor Shaktikanta Das said, “There is a meeting of Monetary Policy Committee in 1st week of August. Our internal research team will assess it. It's not as if it will get reflected in inflation the next day. There is a time lag.” Earlier, Finance Minister Nirmala Sitharaman briefed the RBI’s central board on Budget measures. RBI Governor Shaktikanta Das was also present at the meeting. The Union Budget 2019-20 was presented by Finance Minister on July 5.