ON EXPECTED lines, the Reserve Bank of India’s Monetary Policy Committee (MPC) unanimously decided to keep the repo rate unchanged at 6.5 per cent on worries over higher inflation amid uncertain food prices, and revised upwards the real GDP growth forecast to 7 per cent for FY’24 from 6.5 per cent.
Announcing the policy, RBI Governor Shaktikanta Das said the domestic economic activity is exhibiting resilience supported by robust investment and government consumption. He, however, warned that the protracted geopolitical turmoil, volatility in global financial markets and growing geo-economic fragmentations, may pose risks to the growth outlook.
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