Mumbai: The Monetary Policy Committee of the Reserve Bank of India (RBI) has decided to keep Repo rate unchanged at 4 percent, Reverse Repo rate at 3.35 percent and maintains accommodative stance.
This was announced by RBI Governor Shaktikanta Das at the end of the 3 day MPC meeting today.
“The recovery of Indian economy is gaining traction; it’s in better shape than last MPC meeting. Growth impulses strengthening, inflation trajectory favorable than anticipated; hope to sail towards normal times, due to resilience of economic fundamentals of our economy” he said.
The projection for real GDP growth is retained at 9.5% for FY 2021-22. This consists of 7.9% in Q2, 6.8% in Q3 and 6.1% in Q4 of 2021-22. Real GDP growth for Q1 of FY 2022-23 is projected at 17.2%, he said.
CPI inflation is projected at 5.3% for the current financial (FY22). CPI inflation for Q1 of FY 2022-23 is projected at 5.2%.