Announcing the decision of the Monetary Policy Committee of the Reserve Bank of India on April 5, Governor Shaktikanta Das said that policy repo rates will remain unchanged at 6.5%.
The RBI also retained GDP growth forecast of 7% for 2024-25 financial year, with June quarter growth at 7%, and September quarter at 6.9%. In the third and fourth quarter the growth is expected to be 7% each. This is lower than the 7.6% expansion estimated for FY24.
In February, the Consumer Price-based Inflation (CPI) stood at 5.1%
The two-day review meeting of the MPC that commenced on April 3 concludes today. The RBI had maintained the status quo on policy rates and stances in its last review, which was held in February 2024. The central banking authority of India has kept the repo rate unchanged for the last six consecutive MPC meetings.
(With agency inputs)
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