Repo rate unchanged at 4%, GDP projection retained at 9.5%: RBI Governor
Mumbai: Reserve Bank of India kept the repo rate unchanged at 4 per cent, and the projection for real GDP growth is retained at 9.5 per cent for 2021-22.
RBI Governor Shaktikanta Das said the Consumer Price Index (CPI) inflation is projected at 5.7 per cent during 2021-22, consisting of 5.9 per cent in Q2, 5.3 per cent in Q3 and 5.8 per cent in Q4 2021-22 with risks broadly balanced.
CPI inflation for the first quarter of 2022-23 is projected at 5.1 per cent.
The governor further said that economic activity has broadly evolved along with the Monetary Policy Committee's expectations in June. The economy is recovering from the setback of the second phase of COVID19.
All members of the MPC – Dr. Shashanka Bhide, Dr. Ashima Goyal, Prof. Jayanth R. Varma, Dr. Mridul K. Saggar, Dr. Michael Debabrata Patra and Shri Shaktikanta Das – unanimously voted to keep the policy repo rate unchanged at 4.0