No change in interest rates, inflation forecast for FY23 at 5.7%


RBI Monetary PolicyThe assembly of the Monetary Policy Committee of the Reserve Bank of India was began on 6 April. In this assembly, a massive announcement has been made through the Reserve Bank of India relating to the repo price. RBI Governor Shaktikanta Das has introduced financial coverage on 7th April. MPC policy rates No changes have been made in. The repo price stays unchanged at 4 per cent. This is almost the eleventh time that the central financial institution has not made any change in interest charges. The last time the repo price was modified before this was on 22 May 2020.

RBI Monetary Policy

The Reserve Bank of India has dropped the GDP growth price estimate for the financial year 2023 in the announcement of its financial coverage. Reserve Bank of India Governor Shaktikanta Das of monetary policy After the assembly, it was instructed that the GDP growth estimate for FY23 has been decreased from 7.8 p.c to 7.2 p.c. Along with this, he has also estimated the inflation price up to 5.7 p.c.

RBI Governor Shaktikanta Das said this

RBI Governor Shaktikanta Das gave this info in a press convention in the Monetary Policy assembly that in the second quarter of FY23, the GDP growth estimate was decreased from 7 p.c to 6.2 p.c.

With this, the GDP growth forecast for the third quarter of FY23 was decreased from 4.3 p.c to 4.1 p.c. The GDP growth forecast for the fourth quarter of FY23 has been decreased from 4.5 per cent to 4 per cent.

growth price RBI Monetary Policy

In order to maintain coverage charges in place in financial coverage, RBI has lowered the nation’s economic growth price forecast in the current financial year. It has been 16.2 p.c in the first quarter, 6.2 p.c in the second quarter and 4.1 p.c in the third quarter. With this, this price can be 4 p.c in the fourth quarter. The economic growth price of the nation is estimated to be 7.2 p.c in 2022-23.

(*3*)rise in inflation

The Central Bank has projected inflation to be even higher in the current financial year, it is estimated to be at 5.7 p.c in the financial year 2022-23. Inflation price will be 6.3 p.c in the first quarter, 5 p.c in the second quarter, 5.4 p.c in the third quarter, and 5.1 p.c in the fourth quarter.

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