RBI governor Shaktikanta Das also projected a GDP growth of 6.4% for 2023-24; a reduced retail inflation at 6.5% for 2022-23; and 5.3% for the next fiscal.
Overall CPI inflation has been below 6% for last two months & growth is expected to slow in second half of FY23. But high core inflation could still result in marginal rate hike.
RBI's rate hike also among decisions announced last week that might pay political dividends in state polls, but could come with commensurate economic costs, say economists.
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.
On Wednesday, US Federal Reserve hiked its Federal Funds Rate by 75 basis points. It spurred a global sell-off and led to the rupee crossing the psychological 80-to-a-dollar mark.
The central bank also raised its inflation forecast for the year ending March to 6.7% from 5.7% seen previously. The RBI targets inflation between 2%-6%.
For all its obvious blemishes, capitalism alone holds out the most creative and dynamic force that any civilization has ever discovered, wrote BP Godrej in 1980.
SEBI probe concluded that purported loans and fund transfers were paid back in full and did not amount to deceptive market practices or unreported related party transactions.
This is the first major attack on central security forces since last November, when a CRPF jawan was killed and four were injured in an ambush in Jiribam on Manipur-Assam border.
Many really smart people now share the position that playing cricket with Pakistan is politically, strategically and morally wrong. It is just a poor appreciation of competitive sport.
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