Click it and Unblock the Notifications
On Friday, addressing the press after the Monetary Policy Committee meeting, RBI governor Shaktikanta Das said that the central bank has projected GDP (gross domestic product) at 10.5% for the financial year 2021-22 adding that "outlook on growth has turned positive; signs of recovery strengthen further."
The committee also left the repo rates unchanged at the record low level of 4% and the reverse repo rate was at 3.35%.
This was the fourth time in a row that the RBI was leaving interest rates unchanged.
"The Budget has provided impetus to health and infra sectors. Vegetable prices likely to remain soft in near term; inflation to be revised to 5.2% in Q4 of FY21," Das said further.
After the outbreak of COVID-19, India suffered its worst contraction in economic growth for the April-June quarter, and the GDP is projected to contract by a record 7.7% in the current fiscal ending 31 March 2021. The Pre-Budget Economic Survey predicted a "V-shaped" recovery, saying that the Indian economy will rebound, with 11%, in the next financial year that will begin on 1 April 2021.
Sign in with Google