Repo rate was raised by 250 basis points between May 2022 and February 2023. Robust growth to provide space for monetary policy to remain focused on bringing inflation down to 4% target.
Governor Shaktikanta Das also provided a positive outlook for manufacturing and services sector, while adding that agricultural sector was expected to remain resilient.
Markets were expecting pause in rate hike cycle after 25 basis points hike but RBI gave no such assurance. Globally, too, central banks have continued to tighten monetary conditions.
While overall inflation is moderating, high and persistent core inflation remains a worry, as does the uncertain global growth & inflation environment, the governor said.
This is the fourth straight raise by the RBI, which has has now raised rates by a total 190 basis points since its first unscheduled mid-meeting hike in May.
While announcing the third bi-monthly monetary policy review Friday, RBI Governor Shaktikanta Das said reduction on lending rate has reduced the burden on households.
RBI announces fresh lending support to aviation, tourism & other sectors as MPC keeps key policy rates unchanged. RBI Governor Das says Covid spread in rural India poses risk to growth.
From Sam Pitroda talking about inheritance tax to Goan candidate saying the Indian Constitution was 'forced' on Goa, Congress has been having its own foot-in-the-mouth moments.
Another addition to military cooperation has been the Strategic Space Dialogue, inaugurated in Paris in 2023. Last month, India participated as an observer to France’s AsterX.
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