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.
RBI’s monetary policy committee voted to keep interest rates unchanged at 6.5%, says RBI Governor Shaktikanta Das. Adds, inflation is set to ease further to 5.2% by end of financial year.
In its monetary policy statement, the RBI projected the real GDP growth for the current fiscal at 6.5%, while the retail inflation was projected at 5.4%.
While status quo on rates was expected, there was difference of opinion on stance, which was also left unchanged to focus on withdrawal of accommodation to ensure inflation aligns with 4% target.
Central bank’s rate-setting body felt that it was time to assess impact of past hikes, while also staying ready to increase interest rates again if needed, said RBI Governor Shaktikanta Das.
RBI is expected to raise its benchmark rate for the 7th consecutive meeting & leave the door open for more increases to bring inflation back within its target range, economists said.
In FY 2022–23, Delhi estimated that 1.46 million tonnes of C&D waste from various government departments would be recycled, but achieved only a third of this amount.
New CPI series will take 2024 as base year, will provide more accurate measure of inflation, spending on digital services. Expected to enhance representation and reliability, says Saurabh Garg.
The agreement, signed after meeting between Rajnath and US Secretary of War Pete Hegseth on sidelines of ADMM-Plus in Kuala Lumpur, aims to deepen bilateral ties in the critical sector.
This world is being restructured and redrawn by one man, and what’s his power? It’s not his formidable military. It’s trade. With China, it turned on him.
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