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%.
Think of skinimalism as the Marie Kondo of beauty trends: if a product doesn’t spark joy, or at least actually do something for your skin, it’s time to bid it a grateful goodbye.
ACM Katre was 2nd IAF chief to die in harness. It was at a memorial lecture in his honour where IAF chief AP Singh revealed that India shot down 6 Pakistani aircraft in Op Sindoor.
Standing up to America is usually not a personal risk for a leader in India. Any suggestions of foreign pressure unites India behind who they see as leading them in that fight.
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